The market has stabilized, the first signs of an uptrend appeared

February 19, 2021 11:29:38 AM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Buy
StatusClosed (147.2)
11:27
11:27
Feb. 19, 2021

+80 p
148.00
Target 2
+60 p
147.80
Target 1
147.20
Entry
-60 p
146.60
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  3. We are seeing an increase in Sell positions by market crowd, who are replenishing an already large number of "locked up" losing Sell positions.
  4. The first target is at the level of the previous peak - 147.8, and the second one, in case of an active price increase, is at the level - 148