Strong Bearish Signal:
The showed a sharp fall supported by the large institutional volume and broke through the previous support level. It means that there is a significant sales imbalance at the moment.
Volume Zones:
It is necessary to point out the new support level 104.53. The price is currently testing it.
Sentiment:
This indicator shows that 66% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d00/2102/93/ab1fc0c88cb7.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a keen breakdown of the new support level. The move must be supported by the large volume, which will be a more precise signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
Around 70 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The showed a sharp fall supported by the large institutional volume and broke through the previous support level. It means that there is a significant sales imbalance at the moment.
Volume Zones:
It is necessary to point out the new support level 104.53. The price is currently testing it.
Sentiment:
This indicator shows that 66% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d00/2102/93/ab1fc0c88cb7.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a keen breakdown of the new support level. The move must be supported by the large volume, which will be a more precise signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
Around 70 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.