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

August 1, 2019 4:14:43 PM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Sell
StatusClosed (131.9)
16:10
16:10
Aug. 1, 2019

-69 p
132.60
Stop Loss
131.90
Entry
+75 p
131.15
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
  3. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.