The market has stabilized, the first signs of a downtrend appeared

March 26, 2020 8:22:31 AM by Patrick Yang
Forecast Details
PairGBPJPY
Direction Sell
StatusClosed (130.5)
Start
End
Mar. 26, 2020
Apr. 2, 2020

-175 p
132.25
Stop Loss
130.50
Entry
+169 p
128.80
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on GBPJPY. As a result, we recommend considering only Short trades at this time.
  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. Visually assessing the ratio of buyers and sellers, we see that retail buyers dominate on the market. This fact favors the Short Orders.
  5. We are setting the take profit of our Sell Order to the closest level with a large number of stop losses.