The market has stabilized, the first signs of a downtrend appeared

January 30, 2019 7:24:23 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.715)
6:00
6:00
Jan. 30, 2019

-30 p
0.7180
Stop Loss
0.7150
Entry
+30 p
0.7120
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. Majority of traders are still holding onto longs. This means we should continue selling AUDUSD.
  2. The Current Ratios indicator demonstrates a change in the ratio of players in the market towards buyers. Their increase while the trend is still going downwards may indicate the activity of averaging traders. This can only serve as "fuel" for further downtrend.
  3. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  4. The Profit Ratio indicator is not responding to a downward movement, this means that the movement is valid.
  5. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous support. This is a good level for placing take profit according to our forecast.