Strong Bearish Signal:
The price demonstrated a sharp drop supported by the increased institutional volume, which means that the smart money propelled the pair down.
Volume Zones:
It is necessary to allocate the level of support/lower boundary of the local range 1.3752. The price is testing this mark at the moment.
Sentiment:
This indicator shows that 74% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a30/2107/6f/2cc4e2e176db.png
Consider Short Positions:
Given all these factors, we may regard a breakdown of the support level, which will entitle us to open short positions. The move must be keen and 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 150 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 drop supported by the increased institutional volume, which means that the smart money propelled the pair down.
Volume Zones:
It is necessary to allocate the level of support/lower boundary of the local range 1.3752. The price is testing this mark at the moment.
Sentiment:
This indicator shows that 74% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a30/2107/6f/2cc4e2e176db.png
Consider Short Positions:
Given all these factors, we may regard a breakdown of the support level, which will entitle us to open short positions. The move must be keen and 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 150 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.