Strong Bearish Signal:
The price tested the support level, but could not break it down, however, the pair resumed falling after a smooth upward correction. Moreover, the recent sharp sink supported by the huge volume implies that the smart money pushed the price downwards.
Volume Zones:
We need to point out the level of support 1.2775 - 1.2787, which contains the large volume and has already been tested by the price. The pair is currently testing this mark.
Sentiment:
This indicator shows that 82% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b24/2012/6b/2fad0780443c.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a keen breakdown of the support level. The drop must be keen and supported by the large volume, which will be a more precise signal for entering the market. A stop loss may be placed above the breakdown volume bar.
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 support level, but could not break it down, however, the pair resumed falling after a smooth upward correction. Moreover, the recent sharp sink supported by the huge volume implies that the smart money pushed the price downwards.
Volume Zones:
We need to point out the level of support 1.2775 - 1.2787, which contains the large volume and has already been tested by the price. The pair is currently testing this mark.
Sentiment:
This indicator shows that 82% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b24/2012/6b/2fad0780443c.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a keen breakdown of the support level. The drop must be keen and supported by the large volume, which will be a more precise signal for entering the market. A stop loss may be placed above the breakdown volume bar.
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 -
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.