Strong Bearish Signal:
The price had demonstrated a keen drop and tested the support level, but could not break it down. However, the price has already resumed falling and now is testing this mark once again.
Volume Zones:
We need to allocate the new support level 1.1734 - 1.1738, which contains the large volume.
Consider Short Positions:
Given all these factors, we may reckon a breakdown of the support level, which will consent us to open short positions. 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:
Around 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 price had demonstrated a keen drop and tested the support level, but could not break it down. However, the price has already resumed falling and now is testing this mark once again.
Volume Zones:
We need to allocate the new support level 1.1734 - 1.1738, which contains the large volume.
Consider Short Positions:
Given all these factors, we may reckon a breakdown of the support level, which will consent us to open short positions. 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:
Around 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.