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

January 28, 2022 7:43:24 AM by Alexander Zorevyk
Forecast Details
PairXAUUSD
Direction Sell
StatusClosed (1,789.5)
7:41
7:41
Jan. 28, 2022

-80 p
1,805.0
Stop Loss
1,797.0
Entry
+75 p
1,789.5
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  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. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. Price broke through the MVP line and rushed down. We consider this a sign for further XAUUSD price decrease.
  5. Set Take profit at the local price minimum.
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