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

May 19, 2020 8:03:24 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.3915)
7:59
7:59
May 19, 2020

-60 p
1.4010
Stop Loss
1.3950
Entry
+55 p
1.3895
Target 1
+80 p
1.3870
Target 2
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. The ratio of buyers and sellers is close to parity, it's time to think about price turning down.
  2. The Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
  3. We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
  4. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
  5. We should set the target of our trade at the closest level with a large number of Stop orders, as signaled by the SLC indicator.