Strong Bearish Signal:
The price demonstrated a huge drop supported by large institutional volume and negative delta. It means that sellers are prevailing the market now.
Volume Zones:
It is necessary to highlight the new support level 1.530 - 1.545, which contains the large volume. However, the price did not show any new sharp reaction and is still trading near this mark.
Consider Short Positions:
Given all these factors, we may reckon a scenario of the breakdown of the support level, which will allow us to open short positions. The sink must be keen and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss should be placed above the breakdown volume bar.
Profit Potential:
More than 150 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 supported by large institutional volume and negative delta. It means that sellers are prevailing the market now.
Volume Zones:
It is necessary to highlight the new support level 1.530 - 1.545, which contains the large volume. However, the price did not show any new sharp reaction and is still trading near this mark.
Consider Short Positions:
Given all these factors, we may reckon a scenario of the breakdown of the support level, which will allow us to open short positions. The sink must be keen and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss should be placed above the breakdown volume bar.
Profit Potential:
More than 150 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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