Strong Bearish Signal:
The price demonstrated a huge drop supported by large institutional volume and on the large negative delta, which implies that sellers were dominating the market.
Volume Zones:
We need to allocate the level of support/lower limit of the local consolidation 1267.55, which contains the large volume.
Sentiment:
This indicator shows that 57% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d24/1905/a2/0d58fd61e18c.png
Consider Short Positions:
Given all these factors, we may consider a scenario of further fall and a breakdown of the support level, which will allow us to open sales. The sink of the price must be keen and supported by the large volume, in order to insure us against a fake move. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 150 points.
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 on the large negative delta, which implies that sellers were dominating the market.
Volume Zones:
We need to allocate the level of support/lower limit of the local consolidation 1267.55, which contains the large volume.
Sentiment:
This indicator shows that 57% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d24/1905/a2/0d58fd61e18c.png
Consider Short Positions:
Given all these factors, we may consider a scenario of further fall and a breakdown of the support level, which will allow us to open sales. The sink of the price must be keen and supported by the large volume, in order to insure us against a fake move. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 150 points.
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.