The market has stabilized, the first signs of an uptrend appeared
April 3, 2020 8:08:51 AM
Forecast Details
PairAUDUSD
Direction
Buy
StatusClosed (0.6235)
+145 p
0.6235
Target 1
0.6090
Entry
-140 p
0.5950
Stop Loss
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- According to the most brokers’ data, more than half of the traders are currently in short positions on AUDUSD. As a result, we recommend considering only Long trades at this time.
- The decrease in the buyers volume, together with the increase in the sellers volume, confirms the need to Buy, according to our trading idea.
- The Ratios indicator shows the change in the ratio of market players towards sellers. Their increase while the uptrend may indicate the activity of averaging traders. This can serve as "fuel" for further uptrend.
- Visually assessing the ratio of buyers and sellers, we see that retail sellers dominate on the market. This fact favors the Long Orders.
- We are setting the take profit of our Buy Order to the closest level with a large number of stop losses.
