The market has stabilized, the first signs of a downtrend appeared

March 7, 2019 8:51:56 AM by Alexander Zorevyk
Forecast Details
PairXAUUSD
Direction Sell
StatusClosed (1289)
6:11
6:00
Mar. 7, 2019

-50 p
1,289.0
Stop Loss
1,284.0
Entry
+50 p
1,279.0
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  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. We see a sharp increase in buy orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting a downward movement.
  3. The decrease in the sellers volume, together with the increase in the buyers volume, confirms the need to Sell according to our trading idea.
  4. MVP line is above the price and acts as a resistance level.
  5. Here is the crucial stop loss level to serve as a goal for our Sell trade idea.