The market has stabilized, the first signs of a downtrend appeared

November 26, 2019 8:21:28 PM by Alexander Zorevyk
Forecast Details
PairXAUUSD
Direction Sell
StatusClosed (1453)
20:20
20:20
Nov. 26, 2019

-140 p
1,467.0
Stop Loss
1,453.0
Entry
+140 p
1,439.0
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  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 increase in buyers is observed both in the downward movement and in the retracement movements. Retail traders still believe in the possibility of price increase.
  3. MVP line is above the price and acts as a resistance level.
  4. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous bottom. This is a good level for placing take profit according to our forecast.