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The market has stabilized, the first signs of an uptrend appeared

July 3, 2019 9:24:31 AM by Alexander Zorevyk
Forecast Details
PairXAUUSD
Direction Buy
StatusClosed (1,432.0)
8:13
8:13
Jul. 3, 2019
+130 p
1,445.0
Target 1
1,432.0
Entry
-120 p
1,420.0
Stop Loss
Chart & Analyst Comments
main-buy-trend-2
  1. Majority of traders are still holding onto Shorts. This means we should continue to Buy XAUUSD.
  2. Analyzing the positions ratio, we see that most traders are currently in Shorts, which also combines with the original idea.
  3. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  4. 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.
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