Strong Bearish Signal:
The price tested the resistance level and resumed falling. The move was sharp, although on the average volume. However, given the strong downtrend, we should consider it as a good bearish signal.
Volume Zones:
It is necessary to point out an important level of resistance 1.2400, which contains the large volume.
Sentiment:
This indicator shows that 92% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c38/2110/43/d301d8064cee.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
Profit Potential:
More than 100 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 tested the resistance level and resumed falling. The move was sharp, although on the average volume. However, given the strong downtrend, we should consider it as a good bearish signal.
Volume Zones:
It is necessary to point out an important level of resistance 1.2400, which contains the large volume.
Sentiment:
This indicator shows that 92% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c38/2110/43/d301d8064cee.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
Profit Potential:
More than 100 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.