Strong Bearish Signal:
The price demonstrated a huge drop supported by the large institutional volume, which means that the smart money pushed the pair down. Moreover, we have to highlight a strong downtrend.
Volume Zones:
It is necessary to point out a new support level 0.7188 - 0.7193, which contains the large volume. The price is currently trading nigh this mark.
Sentiment:
This indicator shows that 80% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d18/2111/ae/577751f0bf75.png
Consider Short Positions:
Given all these factors, we should regard a breakdown of the support level, which will allow us to open sales. The move must be keen and supported by the large volume, which will be a more reliable entry point. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 80 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 demonstrated a huge drop supported by the large institutional volume, which means that the smart money pushed the pair down. Moreover, we have to highlight a strong downtrend.
Volume Zones:
It is necessary to point out a new support level 0.7188 - 0.7193, which contains the large volume. The price is currently trading nigh this mark.
Sentiment:
This indicator shows that 80% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d18/2111/ae/577751f0bf75.png
Consider Short Positions:
Given all these factors, we should regard a breakdown of the support level, which will allow us to open sales. The move must be keen and supported by the large volume, which will be a more reliable entry point. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 80 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.