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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairXAUUSD
Publication Time6/4/24 7:08 AM
Direction Sell
Status Closed (2,325.0)
7:08
7:08
Jun. 4, 2024
Forecast
-210 p
2,365.0
Stop Loss
2,344.0
Entry
+190 p
2,325.0
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  1. The ratio of buyers and sellers is close to parity, it's time to think about price turning down.
  2. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. This cluster of orders acts as a resistance. For our forecast, stop loss is reasonable to set higher than this cluster.
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