Strong Bearish Signal:
The price showed a huge drop supported by the large institutional volume. It denotes that institutional players shoved the price down. Given that the move was abrupt, the probability of the further slump is pretty high.
Volume Zones:
This formed a new level of resistance 1.3060, which contains large market participants volume and the pair started its keen fall exactly from this mark.
Sentiment:
This indicator shows that 80% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c23/2009/d6/185c1e5dd0bb.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
Profit Potential:
More than 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 showed a huge drop supported by the large institutional volume. It denotes that institutional players shoved the price down. Given that the move was abrupt, the probability of the further slump is pretty high.
Volume Zones:
This formed a new level of resistance 1.3060, which contains large market participants volume and the pair started its keen fall exactly from this mark.
Sentiment:
This indicator shows that 80% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c23/2009/d6/185c1e5dd0bb.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
Profit Potential:
More than 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.