Strong Bearish Signal:
The pair demonstrated a huge drop supported by large institutional volume yesterday. Moreover, sellers regained the lead once again as the drop was on the large negative delta.
Volume Zones:
It is necessary to point out the support level/local minimum 1.0995, that is being tested at the moment.
Sentiment:
This indicator shows that 86% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b07/2002/f4/7d85b94744d6.png
Consider Short Positions:
Given all these factors, we may regard a scenario of the breakdown of the support level. The drop must be keen and supported by the large volume, which will be a more precise signal for entering the market. A stop loss should be placed above the breakdown volume bar.
Profit Potential:
More than 120 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 demonstrated a huge drop supported by large institutional volume yesterday. Moreover, sellers regained the lead once again as the drop was on the large negative delta.
Volume Zones:
It is necessary to point out the support level/local minimum 1.0995, that is being tested at the moment.
Sentiment:
This indicator shows that 86% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b07/2002/f4/7d85b94744d6.png
Consider Short Positions:
Given all these factors, we may regard a scenario of the breakdown of the support level. The drop must be keen and supported by the large volume, which will be a more precise signal for entering the market. A stop loss should be placed above the breakdown volume bar.
Profit Potential:
More than 120 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.