Strong Bearish Signal:
The price continued falling yesterday. The slump was keen and supported by the increased volume, which shows the power of sellers.
Volume Zones:
This formed a new level of resistance, which contains large market participants volume and was created during this move from 1.1826 - 1.1836.
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a slight upward correction, in order to get a better and more profitable entry point. A stop loss may be placed above the beginning of the drop.
Profit Potential:
Around 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 continued falling yesterday. The slump was keen and supported by the increased volume, which shows the power of sellers.
Volume Zones:
This formed a new level of resistance, which contains large market participants volume and was created during this move from 1.1826 - 1.1836.
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a slight upward correction, in order to get a better and more profitable entry point. A stop loss may be placed above the beginning of the drop.
Profit Potential:
Around 100 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
