Strong Bearish Signal:
The pair restarted falling and is trading near the local minimum. The drop was supported by the increased volume + negative delta, which implies that smart money pushed the price down.
Volume Zones:
We need to allocate the level of support 1.2614, which contains the large volume.
Sentiment:
This indicator shows that 86% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a07/1905/f3/37f2205e5227.png
Consider Short Positions:
Given all these factors, we should consider a scenario of a breakdown of the support level, which will allow us to open short positions. The breakdown movement must be sharp, rapid and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed above the breakdown volume bar.
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 pair restarted falling and is trading near the local minimum. The drop was supported by the increased volume + negative delta, which implies that smart money pushed the price down.
Volume Zones:
We need to allocate the level of support 1.2614, which contains the large volume.
Sentiment:
This indicator shows that 86% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a07/1905/f3/37f2205e5227.png
Consider Short Positions:
Given all these factors, we should consider a scenario of a breakdown of the support level, which will allow us to open short positions. The breakdown movement must be sharp, rapid and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed above the breakdown volume bar.
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 -
