GBPJPY - Downward trend will continue, Short trade by market price recommended
September 6, 2019 7:18:29 AM
Forecast Details
PairGBPJPY
Direction
Sell
StatusClosed (133)
-134 p
133.00
Stop Loss
131.65
Entry
+145 p
130.20
Target 1
About Author
Patrick Yang
Expert
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Total votes: 5
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Chart & Analyst Comments
- For a while now, the Current Ratios indicator has been signalling sell opportunities. Today we are using this signal as the basis for our trading forecast.
- The activity of "fresh" buyers in an uptrend may indicate that the market is waiting for the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
- Price increase is accompanied by reversal signals for Profit Ratio.
- In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous support. This is a good level for placing take profit according to our forecast.