Strong Bearish Signal:
As predicted, the price corrected upwards and then resumed falling. Moreover, the drop was supported by the large volume, which means that institutional players pushed the price down.
Volume Zones:
We need to point out the resistance level 1299.50, which contains the large volume.
Sentiment:
This indicator shows that 55% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img924/6789/4NgrYx.png
Consider Short Positions:
Given all these factors, we still may consider short positions. WWe may open short positions after a slight and smooth upward correction of the price, in order to get an acceptable entry point. A stop loss may be placed above the new resistance.
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 -
As predicted, the price corrected upwards and then resumed falling. Moreover, the drop was supported by the large volume, which means that institutional players pushed the price down.
Volume Zones:
We need to point out the resistance level 1299.50, which contains the large volume.
Sentiment:
This indicator shows that 55% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img924/6789/4NgrYx.png
Consider Short Positions:
Given all these factors, we still may consider short positions. WWe may open short positions after a slight and smooth upward correction of the price, in order to get an acceptable entry point. A stop loss may be placed above the new resistance.
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.