Strong Bearish Signal:
The pair demonstrated a huge drop supported by large institutional volume and broke through the previous support level. Moreover, the large negative delta indicates that dellsers were dominating the market.
Volume Zones:
The new level of resistance 1.1266 – 1.1276 was created during this drop, which contains large market participants volume.
Sentiment:
This indicator shows that 78% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img921/710/52LGMu.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:
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 through the previous support level. Moreover, the large negative delta indicates that dellsers were dominating the market.
Volume Zones:
The new level of resistance 1.1266 – 1.1276 was created during this drop, which contains large market participants volume.
Sentiment:
This indicator shows that 78% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img921/710/52LGMu.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:
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 -
