Strong Bearish Signal:
The price has resumed falling and now is testing the level of support. Besides it, there is a strong local downtrend.
Volume Zones:
We need to point out a strong level of support 1274.00, which contains the large volume. So that, we may assume that the smart money has their positions in this area.
Sentiment:
This indicator shows that 67% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img923/5760/Tm4BHR.png
Consider Short Positions:
Given all these factors, we may consider a breakdown of this mark, which will allow us to open short positions. A drop of the price must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 150+ 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 has resumed falling and now is testing the level of support. Besides it, there is a strong local downtrend.
Volume Zones:
We need to point out a strong level of support 1274.00, which contains the large volume. So that, we may assume that the smart money has their positions in this area.
Sentiment:
This indicator shows that 67% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img923/5760/Tm4BHR.png
Consider Short Positions:
Given all these factors, we may consider a breakdown of this mark, which will allow us to open short positions. A drop of the price must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 150+ 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.