Strong Bearish Signal:
The price demonstrated an abrupt drop and totally swallowed the previous growth. Moreover, the move was supported by increased volume, which means that sellers are still dominating in the market.
Volume Zones:
We have to point out the resistance level 1.1982 - 1.1987, which has been already tested and then the price showed a sharp fall.
Sentiment:
This indicator shows that 56% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b10/2103/34/5d5ab372b5f7.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 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 an abrupt drop and totally swallowed the previous growth. Moreover, the move was supported by increased volume, which means that sellers are still dominating in the market.
Volume Zones:
We have to point out the resistance level 1.1982 - 1.1987, which has been already tested and then the price showed a sharp fall.
Sentiment:
This indicator shows that 56% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b10/2103/34/5d5ab372b5f7.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 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
