Strong Bearish Signal:
The price demonstrated a huge drop supported by large institutional volume and broke through the previous support level. The large negative delta shows that there is a significant imbalance of sales.
Volume Zones:
We need to allocate the new support level 1.2406. The price is currently trading near it.
Sentiment:
This indicator shows that 57% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d19/2006/08/7a31c6f9ca85.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after the breakdown of the support level on the large volume. A stop loss should 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 through the previous support level. The large negative delta shows that there is a significant imbalance of sales.
Volume Zones:
We need to allocate the new support level 1.2406. The price is currently trading near it.
Sentiment:
This indicator shows that 57% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d19/2006/08/7a31c6f9ca85.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after the breakdown of the support level on the large volume. A stop loss should 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 -
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.