Strong Bearish Signal:
The price demonstrated a huge drop supported by large institutional volume and totally absorbed the previous sharp rise. It means that sellers are dominating the market at the moment.
Volume Zones:
We need to point out the volume support level 1.3193. The price is testing this level at the moment.
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a confident and keen breakdown of the support level. The sink must be supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
Around 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 demonstrated a huge drop supported by large institutional volume and totally absorbed the previous sharp rise. It means that sellers are dominating the market at the moment.
Volume Zones:
We need to point out the volume support level 1.3193. The price is testing this level at the moment.
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a confident and keen breakdown of the support level. The sink must be supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
Around 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.