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GBPJPY - Downward trend will continue, Short trade by market price recommended

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairGBPJPY
Publication Time10/27/20 8:08 AM
Direction Sell
Status Closed (135.75)
8:01
8:01
Oct. 27, 2020
Forecast
-75 p
137.20
Stop Loss
136.45
Entry
+70 p
135.75
Target 1
+70 p
135.75
Target 2
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Chart & Analyst Comments

main-sell-market-trend-1
  1. Majority of traders are still holding onto Longs. This means we should continue to Sell 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. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  4. 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.
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