Strong Bearish Signal:
The price demonstrated a huge drop supported by large institutional volume and broke through the previous support level. Moreover, it is necessary to point out the local downtrend.
Volume Zones:
This formed a new level of support 1708.40 - 1715.70. The price is testing this mark at the moment.
Sentiment:
This indicator shows that 69% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d11/2103/d8/14ad7cb4cc94.png
Consider Short Positions:
Given all these factors, we may regard a breakdown of the support level, which will allow us to open short positions. The move must be supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 300 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 broke through the previous support level. Moreover, it is necessary to point out the local downtrend.
Volume Zones:
This formed a new level of support 1708.40 - 1715.70. The price is testing this mark at the moment.
Sentiment:
This indicator shows that 69% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d11/2103/d8/14ad7cb4cc94.png
Consider Short Positions:
Given all these factors, we may regard a breakdown of the support level, which will allow us to open short positions. The move must be supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 300 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.