Strong Bearish Signal:
The price showed a huge drop supported by large institutional volume and broke through the previous support level. Besides it, the large negative delta implies that sellers were prevailing the market.
Volume Zones:
The farther fall was stopped by the new volume level of support 1.1185.
Sentiment:
This indicator shows that 81% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d15/1906/99/8a5f4e85411d.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. However, we may enter the market after a sharp breakdown of the new support level on the large volume, which will be a more reliable and accurate signal for entering the market A stop loss may be placed above the breakdown volume bar.
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 price showed a huge drop supported by large institutional volume and broke through the previous support level. Besides it, the large negative delta implies that sellers were prevailing the market.
Volume Zones:
The farther fall was stopped by the new volume level of support 1.1185.
Sentiment:
This indicator shows that 81% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d15/1906/99/8a5f4e85411d.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. However, we may enter the market after a sharp breakdown of the new support level on the large volume, which will be a more reliable and accurate signal for entering the market A stop loss may be placed above the breakdown volume bar.
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 -
