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

December 12, 2019 7:59:26 AM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (108.35)
7:57
7:57
Dec. 12, 2019

-50 p
108.85
Stop Loss
108.35
Entry
+45 p
107.90
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. Since the CurrentRatio sentiment indicator informs us that the market crowd is buying, we should consider sticking to Sell Orders.
  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. These accumulation of retail traders stop losses coincide with the level of the previous low. This level will serve as the target for our trade.