GBPJPY - Downward trend will continue, Short trade by market price recommended

August 6, 2019 6:28:49 PM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Sell
StatusClosed (128.7)
18:23
18:23
Aug. 6, 2019

-55 p
129.90
Stop Loss
129.35
Entry
+65 p
128.70
Target 1
Chart & Analyst Comments
GBPJPY - Downward trend will continue, Short trade by market price recommended
  1. According to the present ratio of positions indicator, the market crowd believes in an upward movement. As a result, we should consider selling only.
  2. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. Stop loss is properly taken out of the buyers cluster. If the price passes it, it is very likely to go on.