Strong Bearish Signal:
The price resumed falling and totally absorbed the previous surge, which shows the weakness of the buyers. Moreover, the move was supported by the large institutional volume and negative delta, which implies an imbalance of sales at the moment.
Volume Zones:
It is necessary to point out a level of support/local minimum 1.1824. The price is testing this mark at the moment.
Sentiment:
This indicator shows that 71% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d01/2107/ef/126d6aee24d1.png
Consider Short Positions:
Given all these factors, we may regard a breakdown of the support level, which will entitle us to open sales. The move must be keen and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
Around 120 points.
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 totally absorbed the previous surge, which shows the weakness of the buyers. Moreover, the move was supported by the large institutional volume and negative delta, which implies an imbalance of sales at the moment.
Volume Zones:
It is necessary to point out a level of support/local minimum 1.1824. The price is testing this mark at the moment.
Sentiment:
This indicator shows that 71% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d01/2107/ef/126d6aee24d1.png
Consider Short Positions:
Given all these factors, we may regard a breakdown of the support level, which will entitle us to open sales. The move must be keen and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
Around 120 points.
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.