Strong Bearish Signal:
The pair demonstrated a huge drop supported by large institutional volume and broke down the previous support level. Furthermore, the movement was supported by the increased volume, which only enhances its strength.
Volume Zones:
This formed a new level of resistance, which contains large market participants volume and was created during this move - 1.1084.
Sentiment:
This indicator shows that 89% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c43/1908/80/b18f37ede5e1.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can 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:
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 pair demonstrated a huge drop supported by large institutional volume and broke down the previous support level. Furthermore, the movement was supported by the increased volume, which only enhances its strength.
Volume Zones:
This formed a new level of resistance, which contains large market participants volume and was created during this move - 1.1084.
Sentiment:
This indicator shows that 89% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c43/1908/80/b18f37ede5e1.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can 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:
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 -
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