The market has stabilized, the first signs of an uptrend appeared
July 3, 2019 9:24:31 AM
Forecast Details
PairXAUUSD
Direction
Buy
StatusClosed (1432)
+130 p
1,445.0
Target 1
1,432.0
Entry
-120 p
1,420.0
Stop Loss
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- Majority of traders are still holding onto Shorts. This means we should continue to Buy XAUUSD.
- Analyzing the positions ratio, we see that most traders are currently in Shorts, which also combines with the original idea.
- The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
- In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous peak. This is a good level for placing take profit according to our forecast.
