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

September 4, 2019 7:22:37 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.209)
7:21
7:21
Sep. 4, 2019

-64 p
1.2155
Stop Loss
1.2090
Entry
+60 p
1.2030
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. Majority of traders are still holding onto Longs. This means we should continue to Sell GBPUSD.
  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. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  4. Here is the crucial stop loss level to serve as a goal for our Sell trade idea.