Strong Bearish Signal:
The price showed a sharp and confident fall yesterday. The movement was supported by the large volume and negative delta. Hence, we may state that the smart money are still pushing the price down.
Volume Zones:
This formed a new level of resistance, which contains large market participants volume and was created during this move from 1.0926 - 1.0933.
Sentiment:
This indicator shows that 94% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d43/2002/a3/4740c8d9d508.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a smooth and slight upward correction, in order to obtain a more profitable entry point. A stop loss may be placed above the beginning of the sharp fall.
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 price showed a sharp and confident fall yesterday. The movement was supported by the large volume and negative delta. Hence, we may state that the smart money are still pushing the price down.
Volume Zones:
This formed a new level of resistance, which contains large market participants volume and was created during this move from 1.0926 - 1.0933.
Sentiment:
This indicator shows that 94% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d43/2002/a3/4740c8d9d508.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a smooth and slight upward correction, in order to obtain a more profitable entry point. A stop loss may be placed above the beginning of the sharp fall.
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.