Strong Bearish Signal:
The price continued falling, moreover, the move was supported by the large institutional volume, which means that the smart money pushed the price down. Besides it, there is a strong downtrend.
Volume Zones:
This formed a new level of resistance, which contains large market participants volume and was created during this move from 1.1384 – 1.1390.
Sentiment:
This indicator shows that 88% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c17/2111/dc/64286dcdc054.png
Consider Short Positions:
Given all these factors, we may regard sales after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new volume resistance level.
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 continued falling, moreover, the move was supported by the large institutional volume, which means that the smart money pushed the price down. Besides it, there is a strong downtrend.
Volume Zones:
This formed a new level of resistance, which contains large market participants volume and was created during this move from 1.1384 – 1.1390.
Sentiment:
This indicator shows that 88% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c17/2111/dc/64286dcdc054.png
Consider Short Positions:
Given all these factors, we may regard sales after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new volume resistance level.
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 -
