XAUUSD - Downward trend will continue, Short trade by market price recommended
October 16, 2019 6:50:16 AM
Forecast Details
PairXAUUSD
Direction
Sell
StatusClosed (1490.5)
-100 p
1,490.5
Stop Loss
1,480.5
Entry
+105 p
1,470.0
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- Majority of traders are still holding onto Longs. This means we should continue to Sell XAUUSD.
- 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.