Strong Bearish Signal:
The price demonstrated a sharp drop supported by the increased volume, which means that the smart money pushed the pair down.
Volume Zones:
It is necessary to point out the support level/lower limit of the local range 1793.30. The price is currently testing this mark.
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://b.radikal.ru/b13/2107/f6/95f098f33f8b.png
Consider Short Positions:
Given all these factors, we may ponder a breakdown of the support level, which will allow us to open short positions. The breakdown move must be supported by the large volume, which will insure us against a fake breakdown. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
Around 350 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 sharp drop supported by the increased volume, which means that the smart money pushed the pair down.
Volume Zones:
It is necessary to point out the support level/lower limit of the local range 1793.30. The price is currently testing this mark.
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://b.radikal.ru/b13/2107/f6/95f098f33f8b.png
Consider Short Positions:
Given all these factors, we may ponder a breakdown of the support level, which will allow us to open short positions. The breakdown move must be supported by the large volume, which will insure us against a fake breakdown. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
Around 350 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.