Strong Bearish Signal:
The price demonstrated a huge drop supported by large institutional volume and now is testing the support level. The large negative delta shows that sellers are prevailing the market.
Volume Zones:
It is necessary to point out the new support level 1926.60 - 1934.50, which contains the large volume.
Consider Short Positions:
Given all these factors, we may consider a scenario of the support level breakdown. It will be a great bearish signal and will allow us to open short positions. The drop must be keen, confident and supported by the large volume. A stop loss should be placed above the breakdown volume bar.
Profit Potential:
More than 400 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 huge drop supported by large institutional volume and now is testing the support level. The large negative delta shows that sellers are prevailing the market.
Volume Zones:
It is necessary to point out the new support level 1926.60 - 1934.50, which contains the large volume.
Consider Short Positions:
Given all these factors, we may consider a scenario of the support level breakdown. It will be a great bearish signal and will allow us to open short positions. The drop must be keen, confident and supported by the large volume. A stop loss should be placed above the breakdown volume bar.
Profit Potential:
More than 400 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.