The market has stabilized, the first signs of a downtrend appeared
May 3, 2019 5:23:38 AM
Forecast Details
PairXAUUSD
Direction
Sell
StatusClosed
-65 p
1,274.5
Stop Loss
1,268.0
Entry
+60 p
1,262.0
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- According to the most brokers’ data, more than half of the traders are currently in long positions on XAUUSD. As a result, we recommend considering going only short at this time.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- The price decrease will be accompanied by trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for downward movement.