Strong Bearish Signal:
The price demonstrated a huge and sharp fall supported by the large institutional volume, which means that there is a significant sales imbalance.
Volume Zones:
This formed a new level of resistance, which contains large market participants volume and was created during this move from 0.7098 - 0.7110.
Sentiment:
This indicator shows that 53% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b17/2010/b4/3412c1955510.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 70 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 demonstrated a huge and sharp fall supported by the large institutional volume, which means that there is a significant sales imbalance.
Volume Zones:
This formed a new level of resistance, which contains large market participants volume and was created during this move from 0.7098 - 0.7110.
Sentiment:
This indicator shows that 53% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b17/2010/b4/3412c1955510.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 70 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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