GBPJPY - Downward trend will continue, Short trade by market price recommended
August 6, 2019 6:28:49 PM
Forecast Details
PairGBPJPY
Direction
Sell
StatusClosed (128.7)
-55 p
129.90
Stop Loss
129.35
Entry
+65 p
128.70
Target 1
About Author
Alexander Zorevyk
Expert
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Total votes: 6
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Chart & Analyst Comments
- According to the present ratio of positions indicator, the market crowd believes in an upward movement. As a result, we should consider selling only.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- Stop loss is properly taken out of the buyers cluster. If the price passes it, it is very likely to go on.