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

November 6, 2019 6:32:27 AM by Alexander Zorevyk
Forecast Details
PairXAUUSD
Direction Sell
StatusClosed (1485)
6:25
6:25
Nov. 6, 2019

-150 p
1,500.0
Stop Loss
1,485.0
Entry
+170 p
1,468.0
Target 1
Chart & Analyst Comments
XAUUSD - Downward trend will continue, Short trade by market price recommended
  1. 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.
  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. Here is the crucial stop loss level to serve as a goal for our Sell trade idea.