Strong Bearish Signal:
The pair demonstrated a huge drop supported by the large institutional volume, which shows that the smart money was participating in this price move.
Volume Zones:
It is necessary to point out the new volume level of support 1.3655. The price is trading nigh this mark.
Sentiment:
This indicator shows that 86% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c24/2109/39/75b42b1405ab.png
Consider Short Positions:
Given all these factors, we may regard a breakdown of the support level, which will allow us to open sales. The move must be sharp and 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 75 points.
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 the large institutional volume, which shows that the smart money was participating in this price move.
Volume Zones:
It is necessary to point out the new volume level of support 1.3655. The price is trading nigh this mark.
Sentiment:
This indicator shows that 86% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c24/2109/39/75b42b1405ab.png
Consider Short Positions:
Given all these factors, we may regard a breakdown of the support level, which will allow us to open sales. The move must be sharp and 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 75 points.
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.