Strong Bearish Signal:
The price showed a sharp sink supported by the large institutional volume and broke through the previous support level.
Volume Zones:
It is necessary to allocate the new volume support level 109.82.
Sentiment:
This indicator shows that 77% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://imageshack.com/i/pn3uHTuup
Consider Short Positions:
Given all these factors, we may reckon short positions. We may enter the market after an abrupt breakdown of the new support level. The movement must be supported by the large volume, which will insure us against a false breakdown. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
Our first target is the level 108.60.
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 a sharp sink supported by the large institutional volume and broke through the previous support level.
Volume Zones:
It is necessary to allocate the new volume support level 109.82.
Sentiment:
This indicator shows that 77% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://imageshack.com/i/pn3uHTuup
Consider Short Positions:
Given all these factors, we may reckon short positions. We may enter the market after an abrupt breakdown of the new support level. The movement must be supported by the large volume, which will insure us against a false breakdown. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
Our first target is the level 108.60.
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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