Strong Bearish Signal:
The price demonstrated a huge drop supported by large institutional volume and broke through the previous support level. An increaased negative delta confirms that sellers were dominating the market.
Volume Zones:
The volume during the drop was evenly spread throughout the move, so that we can't allocate any new volume level or zone.
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://d.radikal.ru/d37/1905/2d/71f540cfd91d.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may 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 movement.
Profit Potential:
Approximately 80-90 points.
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. An increaased negative delta confirms that sellers were dominating the market.
Volume Zones:
The volume during the drop was evenly spread throughout the move, so that we can't allocate any new volume level or zone.
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://d.radikal.ru/d37/1905/2d/71f540cfd91d.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may 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 movement.
Profit Potential:
Approximately 80-90 points.
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.