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

October 16, 2019 6:50:16 AM by Alexander Zorevyk
Forecast Details
PairXAUUSD
Direction Sell
StatusClosed (1,490.5)
6:48
6:48
Oct. 16, 2019

-100 p
1,490.5
Stop Loss
1,480.5
Entry
+105 p
1,470.0
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  1. Majority of traders are still holding onto Longs. This means we should continue to Sell XAUUSD.
  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.
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