XAUUSD - Downward trend will continue, Short trade by market price recommended
February 4, 2020 7:35:53 AM
Forecast Details
PairXAUUSD
Direction
Sell
StatusClosed (1564)
-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
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- Since the CurrentRatio sentiment indicator informs us that the market crowd is buying, we should consider sticking to Sell Orders.
- The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
- We are focused on the breakdown of the previous bottom, the target at the level of 1564.