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

September 9, 2019 6:37:01 AM by Patrick Yang
Forecast Details
PairXAUUSD
Direction Sell
StatusClosed (1503)
Start
End
Sep. 9, 2019
Sep. 16, 2019

-340 p
1,542.0
Stop Loss
1,508.0
Entry
+310 p
1,477.0
Target 1
Chart & Analyst Comments
XAUUSD - Downward trend will continue, Short trade by market price recommended
  1. According to the present ratio of positions indicator, the market crowd believes in an upward movement. As a result, we should consider selling only.
  2. In this sideways movement, buying prevails in the market crowd. There seem to be a major player interest in a downward movement.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. Here is the crucial stop loss level to serve as a goal for our trading idea.