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GBPUSD - Downward trend will continue, Short trade by market price recommended

Patrick Yang on FXSSI Patrick Yang Expert
main-sell-market-trend-1
Forecast Details
PairGBPUSD
Publication Time8/5/19 6:39 AM
Direction Sell
Status Closed (1.2055)
Aug. 5, 2019
Aug. 12, 2019
Forecast
-130 p
1.2250
Stop Loss
1.2120
Entry
+135 p
1.1985
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  1. Analyzing the market sentiment with Current Ratio indicator, we see a formed signal that confirms our idea of Sell Order.
  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. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  4. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.
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