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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairXAUUSD
Publication Time12/18/24 8:10 AM
Direction Sell
Status Closed (2,632.0)
8:10
8:10
Dec. 18, 2024
Forecast
-100 p
2,653.0
Stop Loss
2,643.0
Entry
+110 p
2,632.0
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  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. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  4. The trade is aimed at the previous low breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 2632
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