Strong Bearish Signal:
The pair demonstrated a huge drop supported by large institutional volume and broke through the previous support level. Moreover, the large negative delta implies the sellers were dominating the market.
Volume Zones:
It is necessary to point out the new level of support 1.2497, which contains the large volume.
Sentiment:
This indicator shows that 88% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b14/1907/d2/56a9e7493041.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. However, we may enter the market after a sharp breakdown of the support level on the large volume, which will be a more reliable signal for entering the market. 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 pair demonstrated a huge drop supported by large institutional volume and broke through the previous support level. Moreover, the large negative delta implies the sellers were dominating the market.
Volume Zones:
It is necessary to point out the new level of support 1.2497, which contains the large volume.
Sentiment:
This indicator shows that 88% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b14/1907/d2/56a9e7493041.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. However, we may enter the market after a sharp breakdown of the support level on the large volume, which will be a more reliable signal for entering the market. 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 -
