XAUUSD - Downward trend will continue, Short trade by market price recommended
November 6, 2019 6:32:27 AM
Forecast Details
PairXAUUSD
Direction
Sell
StatusClosed (1485)
-150 p
1,500.0
Stop Loss
1,485.0
Entry
+170 p
1,468.0
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 only Short trades at this time.
- 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.
- Here is the crucial stop loss level to serve as a goal for our Sell trade idea.
