Help Ukraine! Today, Ukraine Is Fighting for Freedom and the Future of Democracy in Europe. Help Ukraine! Donate Verified Charity

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

October 27, 2020 8:08:30 AM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Sell
StatusClosed (135.75)
8:01
8:01
Oct. 27, 2020

-75 p
137.20
Stop Loss
136.45
Entry
+70 p
135.75
Target 1
+70 p
135.75
Target 2
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.
    index: 1x 0.035079002380371s
t_/pages/forecast: 1x 0.032383918762207s
t_/common/header-new: 1x 0.020326852798462s
t_/common/head: 1x 0.017087936401367s
t_/common/footer-new: 1x 0.0025131702423096s
router_page: 1x 0.0013189315795898s
router: 1x 0.00079202651977539s
t_/popups/on-download: 1x 0.0005030632019043s
service-routes: 1x 0.00031208992004395s
router_redirection: 1x 0.00015807151794434s
t_/popups/zoom: 1x 1.7881393432617E-5s
----- END OF DUMP (2022-05-19 01:22:05)  -----