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

August 1, 2022 10:32:29 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9570)
10:32
10:32
Aug. 1, 2022
-60 p
0.9570
Stop Loss
0.9510
Entry
+55 p
0.9455
Target 1
Chart & Analyst Comments
main-sell-trend-2
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on USDCHF. As a result, we recommend considering only Short trades at this time.
  2. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  4. MVP line is above the price and acts as a resistance level.
  5. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  6. Set Take Profit at the local low, beyond which there is a cluster of orders.
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