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

July 29, 2019 12:49:06 PM by Patrick Yang
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.6945)
Start
End
Jul. 29, 2019
Aug. 5, 2019

-100 p
0.7045
Stop Loss
0.6945
Entry
+110 p
0.6835
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared

The downwards scenario is quite obvious, but the presence of a large number of "fellow travelers" will not allow the price to immediately go down. We expect a false move up and afterwards set up a Sell Limit.

  1. The Current Ratios indicator have reached critical value, too many traders expect an upward movement. In this case, we recommend selling only.
  2. There is an increase in sell orders when the price attempts to move down. We expect an upward movement to eliminate accumulated sellers, so we recommend to set Sell Limit at 0.6945.
  3. The dynamics of the Ratios indicator signals possible sells. Pay attention to the area marked on the image.
  4. Stop loss is properly taken out of the buyers cluster. If the price passes it, it is very likely to go on.