The market has stabilized, the first signs of a downtrend appeared
March 26, 2020 8:22:31 AM
Forecast Details
PairGBPJPY
Direction
Sell
StatusClosed (130.5)
-175 p
132.25
Stop Loss
130.50
Entry
+170 p
128.80
Target 1
About Author
Patrick Yang
Expert
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Total votes: 6
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Chart & Analyst Comments
- 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.
- 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.
- Visually assessing the ratio of buyers and sellers, we see that retail buyers dominate on the market. This fact favors the Short Orders.
- We are setting the take profit of our Sell Order to the closest level with a large number of stop losses.
