Strong Bearish Signal:
The price demonstrated a huge drop supported by the large institutional volume, which shows that the smart money pushed the pair down.
Volume Zones:
We have to point out an important level of support/lower limit of the local range 1793.30. The price is trading nigh this mark at the moment.
Sentiment:
This indicator shows that 71% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d12/2108/cb/543654276174.png
Consider Short Positions:
Given all these factors, may regard a breakdown of the support level, which will consent to open short positions. The move should be keen and 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:
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 demonstrated a huge drop supported by the large institutional volume, which shows that the smart money pushed the pair down.
Volume Zones:
We have to point out an important level of support/lower limit of the local range 1793.30. The price is trading nigh this mark at the moment.
Sentiment:
This indicator shows that 71% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d12/2108/cb/543654276174.png
Consider Short Positions:
Given all these factors, may regard a breakdown of the support level, which will consent to open short positions. The move should be keen and 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:
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.