Strong Bearish Signal:
The price tested the support level, but could not break it down and corrected upwards. However, the pair has already resumed falling.
Volume Zones:
It is necessary to point out the level of support 107.06, which is being tested now.
Sentiment:
This indicator shows that 67% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b37/2004/38/d8d9884d1036.png
Consider Short Positions:
Given all these factors, we may reckon a scenario of the breakdown of this mark. 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 tested the support level, but could not break it down and corrected upwards. However, the pair has already resumed falling.
Volume Zones:
It is necessary to point out the level of support 107.06, which is being tested now.
Sentiment:
This indicator shows that 67% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b37/2004/38/d8d9884d1036.png
Consider Short Positions:
Given all these factors, we may reckon a scenario of the breakdown of this mark. 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.