Strong Bearish Signal:
The price demonstrated a huge drop after the appearance of the large volume in the market. It shows the huge dis-balance of sales (shorts>longs).
Volume Zones:
We need to point out the level of support/local minimum 107.06. Now the price is trading near it.
Sentiment:
This indicator shows that 65% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b31/2004/f2/0f201e4c8f37.png
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 drop 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 after the appearance of the large volume in the market. It shows the huge dis-balance of sales (shorts>longs).
Volume Zones:
We need to point out the level of support/local minimum 107.06. Now the price is trading near it.
Sentiment:
This indicator shows that 65% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b31/2004/f2/0f201e4c8f37.png
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 drop 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.