Strong Bearish Signal:
The pair showed a confident and sharp drop of the price. The movement was supported by the large volume and negative delta, which means that sellers were dominating among institutional players and pushed the price down.
Volume Zones:
We need to point out the level of support 0.6850.
Sentiment:
This indicator shows that 70% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d32/2001/28/2c48d8c15096.png
Consider Short Positions:
Given all these factors, we may regard a scenario of a breakdown of the support level, which will allow us to open short positions. The sink must be keen and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss should be placed above the breakdown volume bar.
Profit Potential:
More than 70 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 showed a confident and sharp drop of the price. The movement was supported by the large volume and negative delta, which means that sellers were dominating among institutional players and pushed the price down.
Volume Zones:
We need to point out the level of support 0.6850.
Sentiment:
This indicator shows that 70% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d32/2001/28/2c48d8c15096.png
Consider Short Positions:
Given all these factors, we may regard a scenario of a breakdown of the support level, which will allow us to open short positions. The sink must be keen and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss should be placed above the breakdown volume bar.
Profit Potential:
More than 70 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
