Strong Bearish Signal:
The price demonstrated a huge drop supported by large institutional volume and broke through the previous support level. Moreover, the move was on the large negative delta, which means that sellers are still dominating the market now.
Volume Zones:
We need to point out the new volume level of support 108.35. The price did not show any sharp reaction of the price on it and is trading near it now.
Sentiment:
This indicator shows that 90% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b39/2002/3e/218d4734f4f3.png
Consider Short Positions:
Given all these factors, we may regard a scenario of the breakdown of the support level. The sink must be keen 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:
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 move was on the large negative delta, which means that sellers are still dominating the market now.
Volume Zones:
We need to point out the new volume level of support 108.35. The price did not show any sharp reaction of the price on it and is trading near it now.
Sentiment:
This indicator shows that 90% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b39/2002/3e/218d4734f4f3.png
Consider Short Positions:
Given all these factors, we may regard a scenario of the breakdown of the support level. The sink must be keen 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:
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.