Strong Bearish Signal:
The price demonstrated a huge drop supported by large institutional volume, which means that the smart money pushed the price down.
Volume Zones:
We need to point out the support level 14.58 - 14.65. The price is currently trading near it.
Sentiment:
This indicator shows that 75% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c41/2005/b8/7bf66518010a.png
Consider Short Positions:
Given all these factors, we may reckon a scenario of the breakdown of the support level. The sink must be keen and supported by the large volume, which will be a more accurate 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 price demonstrated a huge drop supported by large institutional volume, which means that the smart money pushed the price down.
Volume Zones:
We need to point out the support level 14.58 - 14.65. The price is currently trading near it.
Sentiment:
This indicator shows that 75% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c41/2005/b8/7bf66518010a.png
Consider Short Positions:
Given all these factors, we may reckon a scenario of the breakdown of the support level. The sink must be keen and supported by the large volume, which will be a more accurate 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 -
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