XAUUSD - the pair is about to leave the range of flat

February 1, 2019 8:25:22 AM by Alexander Zorevyk
Forecast Details
PairXAUUSD
Direction Sell
StatusClosed (1321.5)
6:08
6:00
Feb. 1, 2019

-40 p
1,321.5
Stop Loss
1,317.5
Entry
+35 p
1,314.0
Target 1
Chart & Analyst Comments
XAUUSD - the pair is about to leave the range of flat
  1. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
  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. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  4. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous bottom. This is a good level for placing take profit according to our forecast.