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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 Time10/21/22 12:18 PM
Direction Sell
Status Closed (1,631.0)
12:18
12:18
Oct. 21, 2022
Forecast
-100 p
1,631.0
Stop Loss
1,621.0
Entry
+100 p
1,611.0
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. MVP line is above the price and acts as a resistance level.
  4. The risk-to-profit ratio allows us to set Take Profit for a Short trade at 1611
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