Strong Bearish Signal:
The price demonstrated a huge drop and totally absorbed the previous sharp rise, which shows the weakness of buyers now.
Volume Zones:
It is necessary to point out the level of support/lower limit of the local range 0.7327, which contains the large volume. The price is trading nigh this mark at the moment.
Consider Short Positions:
Given all these factors, we may regard a breakdown of the support level, which will allow us to open sales. The move must be keen and supported by the large volume, which will be a more precise signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 90 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 and totally absorbed the previous sharp rise, which shows the weakness of buyers now.
Volume Zones:
It is necessary to point out the level of support/lower limit of the local range 0.7327, which contains the large volume. The price is trading nigh this mark at the moment.
Consider Short Positions:
Given all these factors, we may regard a breakdown of the support level, which will allow us to open sales. The move must be keen and supported by the large volume, which will be a more precise signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 90 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
