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

October 21, 2022 12:18:33 PM by Alex Zarevich
Forecast Details
PairXAUUSD
Direction Sell
StatusClosed (1,631.0)
12:18
12:18
Oct. 21, 2022
-100 p
1,631.0
Stop Loss
1,621.0
Entry
+100 p
1,611.0
Target 1
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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