Strong Bearish Signal:
The price showed a sharp fall and now is testing the level of support. The drop was keen and supported by the large volume, which means that it's the smart money that pushed the pair down. Moreover, the increased negative delta means that seller were prevailing the market.
Volume Zones:
We need to allocated an important level of resistance 1.2571, which is also a local minimum.
Sentiment:
This indicator shows that 87% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c15/1906/79/c8967f120c16.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakdown of the support, which will allow us to open sales. The sink must be sharp and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed below 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 showed a sharp fall and now is testing the level of support. The drop was keen and supported by the large volume, which means that it's the smart money that pushed the pair down. Moreover, the increased negative delta means that seller were prevailing the market.
Volume Zones:
We need to allocated an important level of resistance 1.2571, which is also a local minimum.
Sentiment:
This indicator shows that 87% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c15/1906/79/c8967f120c16.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakdown of the support, which will allow us to open sales. The sink must be sharp and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed below 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 -
