GBPJPY - Downward trend will continue, Short trade by market price recommended
October 27, 2020 8:08:30 AM
Forecast Details
PairGBPJPY
Direction
Sell
StatusClosed (135.75)
-75 p
137.20
Stop Loss
136.45
Entry
+70 p
135.75
Target 1
+70 p
135.75
Target 2
About Author
Alexander Zorevyk
Expert
Related Links
Buy or Sell
More Pairs
Thanks for Voting!
Buy
Sell
Look like you are with the Crowd.
Fix it with Sentiment Strategy
Fix it with Sentiment Strategy
Congratulations! According to Sentiment Strategy you’ve made a right
decision.
You've already voted this pair. You can vote again later (when?) or try voting other
pair.
Total votes: 4
Buy or Sell
Chart & Analyst Comments
- Majority of traders are still holding onto Longs. This means we should continue to Sell GBPJPY.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
- The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.
