Strong Bearish Signal:
The price demonstrated a huge drop supported by large institutional volume and broke through the previous support level. Moreover, the large negative delta shows a significant imbalance of sales.
Volume Zones:
Unfortunately, the volume was evenly spread across the chart, hence, we can't allocate any new volume levels.
Sentiment:
This indicator shows that 70% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c36/2006/7f/b0b6910c2b73.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 beginning of the breakdown volume move.
Profit Potential:
More than 110 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 broke through the previous support level. Moreover, the large negative delta shows a significant imbalance of sales.
Volume Zones:
Unfortunately, the volume was evenly spread across the chart, hence, we can't allocate any new volume levels.
Sentiment:
This indicator shows that 70% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c36/2006/7f/b0b6910c2b73.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 beginning of the breakdown volume move.
Profit Potential:
More than 110 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.