Strong Bearish Signal:
The price continued falling, moreover, the drop was confident and sharp, so that we may state that the downtrend is going on.
Volume Zones:
Besides it, we need to point out the new level of resistance 1.2757, which contains the large volume.
Sentiment:
This indicator shows that 91% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c36/1905/b9/97f651344f33.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can 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 120 points.
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 drop was confident and sharp, so that we may state that the downtrend is going on.
Volume Zones:
Besides it, we need to point out the new level of resistance 1.2757, which contains the large volume.
Sentiment:
This indicator shows that 91% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c36/1905/b9/97f651344f33.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can 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 120 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
