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

September 6, 2022 12:19:28 PM by Alexander Zorevyk
Forecast Details
PairXAUUSD
Direction Sell
StatusClosed (1,704.0)
12:19
12:19
Sep. 6, 2022
-100 p
1,724.0
Stop Loss
1,714.0
Entry
+100 p
1,704.0
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The increase in buyers is observed both in the downward movement and in the retracement movements. Retail traders still believe in the possibility of price increase.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  5. The risk/reward ratio allows you to set Take Profit at the same level where the SLC indicator signals that there are Stop orders - 1704
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