Strong Bearish Signal:
The price resumed falling and now is testing the level of support/local minimum. Besides it, we need to allocated the presence of the strong local downtrend.
Volume Zones:
We need to point out the level of support 1.1068.
Sentiment:
This indicator shows that 83% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a28/1908/7d/197ead3b3a04.png
Consider Short Positions:
Given all these factors, we may consider a scenario of the breakdown of the support, which will allow us to open short positions. The fall must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed above the breakdown volume bar.
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 price resumed falling and now is testing the level of support/local minimum. Besides it, we need to allocated the presence of the strong local downtrend.
Volume Zones:
We need to point out the level of support 1.1068.
Sentiment:
This indicator shows that 83% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a28/1908/7d/197ead3b3a04.png
Consider Short Positions:
Given all these factors, we may consider a scenario of the breakdown of the support, which will allow us to open short positions. The fall must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed above the breakdown volume bar.
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.