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

August 13, 2019 6:43:16 PM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Sell
StatusClosed (127.5)
18:36
18:36
Aug. 13, 2019

-70 p
128.90
Stop Loss
128.20
Entry
+69 p
127.50
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. Majority of traders are still holding onto longs. This means we should continue selling GBPJPY.
  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. After a slight upward price movement, profitable buyers will begin actively to take profits, returning the price to its original position.