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

January 15, 2021 7:13:01 AM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Sell
StatusClosed (126.1)
7:03
7:03
Jan. 15, 2021

-60 p
126.70
Stop Loss
126.10
Entry
+60 p
125.50
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. The ratio of buyers and sellers is close to parity, it's time to think about price turning down.
  2. The decrease in the sellers volume, together with the increase in the buyers volume, confirms the need to Sell according to our trading idea.
  3. The last downward movement has brought a volume of sellers, which implies a small price correction. Enter the deal with a Sell Limit order.
  4. The SLC indicator displays a cluster of Stop Losses and Stop orders straight at the previous low level, which according to our forecast, is good for placing Take Profit.