The market has stabilized, the first signs of an uptrend appeared
March 17, 2021 8:44:40 AM
Forecast Details
PairGBPJPY
Direction
Buy
StatusClosed (152.4)
+90 p
152.40
Target 2
+65 p
152.15
Target 1
151.50
Entry
-65 p
150.85
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 8
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Chart & Analyst Comments
- According to the most brokers’ data, more than half of the traders are currently in short positions on GBPJPY. As a result, we recommend considering only Long trades at this time.
- The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- The last upward movement has brought a volume of buyers, which implies a small price correction. Enter the deal with a Buy Limit order.
- The trade is aimed at the previous high breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 152.15
