Strong Bearish Signal:
The price demonstrated a huge drop supported by the large institutional volume, which shows that the smart money pushed the pair down.
Volume Zones:
We have to point out an important level of support/lower limit of the local range 1793.30. The price is trading nigh this mark at the moment.
Sentiment:
This indicator shows that 71% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d12/2108/cb/543654276174.png
Consider Short Positions:
Given all these factors, may regard a breakdown of the support level, which will consent to open short positions. The move should be keen and 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:
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 price demonstrated a huge drop supported by the large institutional volume, which shows that the smart money pushed the pair down.
Volume Zones:
We have to point out an important level of support/lower limit of the local range 1793.30. The price is trading nigh this mark at the moment.
Sentiment:
This indicator shows that 71% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d12/2108/cb/543654276174.png
Consider Short Positions:
Given all these factors, may regard a breakdown of the support level, which will consent to open short positions. The move should be keen and 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:
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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