Strong Bearish Signal:
The price showed a sharp and keen drop supported by the large institutional volume and broke through the previous support level. Moreover, the large negative delta shows that there is a significant sales imbalance now.
Volume Zones:
This formed a new level of resistance, which contains large market participants volume and was created during this move from 1.1840 – 1.1846.
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the beginning of the slump.
Profit Potential:
Around 100-110 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 keen drop supported by the large institutional volume and broke through the previous support level. Moreover, the large negative delta shows that there is a significant sales imbalance now.
Volume Zones:
This formed a new level of resistance, which contains large market participants volume and was created during this move from 1.1840 – 1.1846.
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the beginning of the slump.
Profit Potential:
Around 100-110 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.