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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 Time5/29/24 8:43 AM
Direction Sell
Status Closed (2,325.0)
8:43
8:43
May 29, 2024
Forecast
-290 p
2,375.0
Stop Loss
2,346.0
Entry
+210 p
2,325.0
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 last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. The SLC indicator displays a cluster of Stop Losses and Stop orders straight at the previous low level, which according to our forecast, is good for placing Take Profit.
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