Strong Bearish Signal:
The price resumed falling and swallowed the recent sharp growth. It displays the weakness of buyers at the moment.
Volume Zones:
The pair is testing the support level 1.1790 - 1.1797 now.
Consider Short Positions:
Given all these factors, we may reckon a scenario of the support level breakdown, which will be a great bearish signal. The sink must be abrupt and supported by the large volume, which will be a more precise signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 80 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The price resumed falling and swallowed the recent sharp growth. It displays the weakness of buyers at the moment.
Volume Zones:
The pair is testing the support level 1.1790 - 1.1797 now.
Consider Short Positions:
Given all these factors, we may reckon a scenario of the support level breakdown, which will be a great bearish signal. The sink must be abrupt and supported by the large volume, which will be a more precise signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 80 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.