Strong Bearish Signal:
The pair continued falling yesterday. The move was supported by the large volume and broke down the previous support level. Moreover, there is a strong downtrend.
Volume Zones:
It is necessary to point out the new level of resistance, which contains large market participants volume and was created during this move from 1.1914 – 1.1924.
Sentiment:
This indicator shows that 80% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d12/2103/a3/39ecd6fb5064.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
Profit Potential:
More than 100 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 continued falling yesterday. The move was supported by the large volume and broke down the previous support level. Moreover, there is a strong downtrend.
Volume Zones:
It is necessary to point out the new level of resistance, which contains large market participants volume and was created during this move from 1.1914 – 1.1924.
Sentiment:
This indicator shows that 80% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d12/2103/a3/39ecd6fb5064.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
Profit Potential:
More than 100 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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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.