Strong Bearish Signal:
The price showed an abrupt sink supported by the large volume and broke through the previous support level. Moreover, the large negative delta implies that there is a huge sales imbalance.
Volume Zones:
We have to allocate the new support level 0.7012 - 0.7020. The price is trading near this mark now.
Sentiment:
This indicator shows that 55% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c34/2009/89/de9e6eb53334.png
Consider Short Positions:
Given all these factors, we should ponder exceptionally short positions. We may enter the market after the keen breakdown of the support level. The move must be 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:
Around 80 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 an abrupt sink supported by the large volume and broke through the previous support level. Moreover, the large negative delta implies that there is a huge sales imbalance.
Volume Zones:
We have to allocate the new support level 0.7012 - 0.7020. The price is trading near this mark now.
Sentiment:
This indicator shows that 55% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c34/2009/89/de9e6eb53334.png
Consider Short Positions:
Given all these factors, we should ponder exceptionally short positions. We may enter the market after the keen breakdown of the support level. The move must be 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:
Around 80 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
