Strong Bearish Signal:
The pair demonstrated a huge drop supported by large institutional volume and tested the support level. Yes, the price could not break it down, but is still trading near it.
Volume Zones:
It is necessary to allocate the level of support/local minimum 1.2993. It contains the large volume (some institutional playes have positions there) and has already been tested (some institutional playes keep the price up).
Sentiment:
This indicator shows that 76% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img924/6942/Ftu8OB.png
Consider Short Positions:
Therefore, we may regard a scenario of a continuaiton of the drop and the sharp breakdown of the support, which will be a great bearish signal.The move must be 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 pair demonstrated a huge drop supported by large institutional volume and tested the support level. Yes, the price could not break it down, but is still trading near it.
Volume Zones:
It is necessary to allocate the level of support/local minimum 1.2993. It contains the large volume (some institutional playes have positions there) and has already been tested (some institutional playes keep the price up).
Sentiment:
This indicator shows that 76% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img924/6942/Ftu8OB.png
Consider Short Positions:
Therefore, we may regard a scenario of a continuaiton of the drop and the sharp breakdown of the support, which will be a great bearish signal.The move must be 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.