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

May 13, 2019 7:01:52 PM by Patrick Yang
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (109.95)
Start
End
May 13, 2019
May 20, 2019

-94 p
110.60
Stop Loss
109.65
Entry
+90 p
108.75
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. MVP line is above the price and acts as a resistance level.
  3. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  4. Today we are considering a bearish scenario. However, given that all attempts to develop a downward movement are accompanied by an “overwhelming” of the Profit Ratio indicator, it is better to enter the market at a higher price.