Strong Bearish Signal:
The price demonstrated a huge drop supported by large institutional volume and broke down the previous support level. Besides it, the large negative delta shows the domination of sellers at the moment.
Volume Zones:
This formed a new level of support, which contains increased market participants volume and was created during this move 1.2400.
Sentiment:
This indicator shows that 89% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b01/1907/8f/821f43f7cdeb.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a confident and keen breakdown of the new level of support. The movement 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 120 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 large institutional volume and broke down the previous support level. Besides it, the large negative delta shows the domination of sellers at the moment.
Volume Zones:
This formed a new level of support, which contains increased market participants volume and was created during this move 1.2400.
Sentiment:
This indicator shows that 89% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b01/1907/8f/821f43f7cdeb.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a confident and keen breakdown of the new level of support. The movement 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 120 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
