Strong Bearish Signal:
The price demonstrated a huge drop supported by large institutional volume and negative delta. It means that sellers are prevailing the market now.
Volume Zones:
It is necessary to highlight the new support level 1.530 - 1.545, which contains the large volume. However, the price did not show any new sharp reaction and is still trading near this mark.
Consider Short Positions:
Given all these factors, we may reckon a scenario of the breakdown of the support level, which will allow us to open short positions. The sink must be keen and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss should 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 huge drop supported by large institutional volume and negative delta. It means that sellers are prevailing the market now.
Volume Zones:
It is necessary to highlight the new support level 1.530 - 1.545, which contains the large volume. However, the price did not show any new sharp reaction and is still trading near this mark.
Consider Short Positions:
Given all these factors, we may reckon a scenario of the breakdown of the support level, which will allow us to open short positions. The sink must be keen and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss should 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.