Strong Bearish Signal:
The price tested the resistance level, but could not break it out. Moreover, the large volume is concentrated within the test, which implies that the smart money has positions inside this zone.
Volume Zones:
It is necessary to allocate the resistance level 1.3925 - 1.3934, which contains the large volume.
Sentiment:
This indicator shows that 59% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c18/2106/81/075c307a23c0.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:
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 tested the resistance level, but could not break it out. Moreover, the large volume is concentrated within the test, which implies that the smart money has positions inside this zone.
Volume Zones:
It is necessary to allocate the resistance level 1.3925 - 1.3934, which contains the large volume.
Sentiment:
This indicator shows that 59% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c18/2106/81/075c307a23c0.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:
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 -
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Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.