The market has stabilized, the first signs of a downtrend appeared
September 4, 2019 7:22:37 AM
Forecast Details
PairGBPUSD
Direction
Sell
StatusClosed (1.209)
-64 p
1.2155
Stop Loss
1.2090
Entry
+60 p
1.2030
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- Majority of traders are still holding onto Longs. This means we should continue to Sell GBPUSD.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
- Here is the crucial stop loss level to serve as a goal for our Sell trade idea.