Strong Bearish Signal:
The price showed a sharp sink supported by large institutional volume, that implies that the smart money pushed the price down. Moreover, the pair is testing the level of support.
Volume Zones:
We need to allocated the strong global level of support 109.80.
Sentiment:
This indicator shows that 92% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c02/1905/ba/055f4940110f.png
Consider Short Positions:
Given all these factors, we may regard a scenario of the breakdown of the support, which will be a strong bearish signal. The fall must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed above the breakout volume bar.
Profit Potential:
More than 100 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 sharp sink supported by large institutional volume, that implies that the smart money pushed the price down. Moreover, the pair is testing the level of support.
Volume Zones:
We need to allocated the strong global level of support 109.80.
Sentiment:
This indicator shows that 92% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c02/1905/ba/055f4940110f.png
Consider Short Positions:
Given all these factors, we may regard a scenario of the breakdown of the support, which will be a strong bearish signal. The fall must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed above the breakout volume bar.
Profit Potential:
More than 100 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.