XAUUSD - Downward trend will continue, Short trade by market price recommended

February 4, 2020 7:35:53 AM by Alexander Zorevyk
Forecast Details
PairXAUUSD
Direction Sell
StatusClosed (1564)
7:28
7:28
Feb. 4, 2020

-100 p
1,584.0
Stop Loss
1,574.0
Entry
+100 p
1,564.0
Target 1
+150 p
1,559.0
Target 2
Chart & Analyst Comments
XAUUSD - Downward trend will continue, Short trade by market price recommended
  1. Since the CurrentRatio sentiment indicator informs us that the market crowd is buying, we should consider sticking to Sell Orders.
  2. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  4. We are focused on the breakdown of the previous bottom, the target at the level of 1564.