Strong Bearish Signal:
The price demonstrated a huge drop supported by the large institutional volume and broke through the previous support level. Moreover, the large negative delta means that there is a significant sales imbalance in the market now.
Volume Zones:
It is necessary to point out the new support level 1.1658 - 1.1665, which contains the large volume. The price is testing this mark at the moment.
Sentiment:
This indicator shows that 54% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a19/2010/6f/b822380f46d5.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a keen breakdown of the support level. The sink 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:
More than 100 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 huge drop supported by the large institutional volume and broke through the previous support level. Moreover, the large negative delta means that there is a significant sales imbalance in the market now.
Volume Zones:
It is necessary to point out the new support level 1.1658 - 1.1665, which contains the large volume. The price is testing this mark at the moment.
Sentiment:
This indicator shows that 54% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a19/2010/6f/b822380f46d5.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a keen breakdown of the support level. The sink 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:
More than 100 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
