Strong Bearish Signal:
The price tested the resistance level and then resumed falling. The move was keen and confident. Moreover, there is a strong local downtrend.
Volume Zones:
It is necessary to allocate an important level of resistance 1.1743 - 1.1747, which contains the large volume.
Sentiment:
This indicator shows that 72% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d22/2109/a8/91bb967137b3.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
Profit Potential:
More than 80 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 tested the resistance level and then resumed falling. The move was keen and confident. Moreover, there is a strong local downtrend.
Volume Zones:
It is necessary to allocate an important level of resistance 1.1743 - 1.1747, which contains the large volume.
Sentiment:
This indicator shows that 72% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d22/2109/a8/91bb967137b3.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
Profit Potential:
More than 80 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
