Strong Bearish Signal:
The pair showed a sharp bullish impulse, but then it was totally absorbed by the huge drop supported by large institutional volume. It means that sellers dominating the market, moreover, the large negative delta confirms this statement.
Volume Zones:
We need to point out the new level of resistance 1.2797. This level contains the large volume, which means that the smart money opened their positions in this area.
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://c.radikal.ru/c33/1905/91/646aba3a032d.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after a smooth and slight upward correction, in order to get an acceptable entry point. A stop loss may be placed above the new resistance.
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 pair showed a sharp bullish impulse, but then it was totally absorbed by the huge drop supported by large institutional volume. It means that sellers dominating the market, moreover, the large negative delta confirms this statement.
Volume Zones:
We need to point out the new level of resistance 1.2797. This level contains the large volume, which means that the smart money opened their positions in this area.
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://c.radikal.ru/c33/1905/91/646aba3a032d.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after a smooth and slight upward correction, in order to get an acceptable entry point. A stop loss may be placed above the new resistance.
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 -
