Strong Bearish Signal:
The pair continued its confident and sharp drop supported by the increased institutional volume.
Volume Zones:
It is necessary to point out the resistance level 1.1181, that contains the large volume.
Sentiment:
This indicator shows that 91% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c30/1907/0a/a2c5383ba9fc.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
Profit Potential:
More than 100 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The pair continued its confident and sharp drop supported by the increased institutional volume.
Volume Zones:
It is necessary to point out the resistance level 1.1181, that contains the large volume.
Sentiment:
This indicator shows that 91% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c30/1907/0a/a2c5383ba9fc.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
Profit Potential:
More than 100 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.