Strong Bearish Signal:
The price demonstrated a sharp drop supported by the large institutional volume, which implies that the smart money pushed the price down. The large negative delta means that bears are still dominating the market.
Volume Zones:
We need to point out the new level of support 16.54, which contains the large volume. The price is trading near this mark at the moment.
Sentiment:
This indicator shows that 81% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a24/1912/f6/6e3220651ba5.png
Consider Short Positions:
Given all these factors, we may consider a breakdown of the support level, which will consent us to open short positions. The sink must be keen and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss should be placed above the breakdown of the support level.
Profit Potential:
More than 60 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 sharp drop supported by the large institutional volume, which implies that the smart money pushed the price down. The large negative delta means that bears are still dominating the market.
Volume Zones:
We need to point out the new level of support 16.54, which contains the large volume. The price is trading near this mark at the moment.
Sentiment:
This indicator shows that 81% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a24/1912/f6/6e3220651ba5.png
Consider Short Positions:
Given all these factors, we may consider a breakdown of the support level, which will consent us to open short positions. The sink must be keen and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss should be placed above the breakdown of the support level.
Profit Potential:
More than 60 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.