Strong Bearish Signal:
The price demonstrated a sharp and confident fall. The move was on the large volume, which means that the smart money pushed the price down.
Volume Zones:
It is necessary to point out the support level 1.2024. The price is currently testing this mark.
Sentiment:
This indicator shows that 69% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d18/2103/51/a69e4bc50119.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after the keen breakdown of the support level. The move must be 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:
More than 60 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 demonstrated a sharp and confident fall. The move was on the large volume, which means that the smart money pushed the price down.
Volume Zones:
It is necessary to point out the support level 1.2024. The price is currently testing this mark.
Sentiment:
This indicator shows that 69% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d18/2103/51/a69e4bc50119.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after the keen breakdown of the support level. The move must be 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:
More than 60 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.