Strong Bearish Signal:
The price demonstrated a huge drop supported by large institutional volume and broke through the previous support level. Moreover, it is necessary to point out the local downtrend.
Volume Zones:
This formed a new level of support 1708.40 - 1715.70. The price is testing this mark at the moment.
Sentiment:
This indicator shows that 69% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d11/2103/d8/14ad7cb4cc94.png
Consider Short Positions:
Given all these factors, we may regard a breakdown of the support level, which will allow us to open short positions. The move must be supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 300 points.
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 broke through the previous support level. Moreover, it is necessary to point out the local downtrend.
Volume Zones:
This formed a new level of support 1708.40 - 1715.70. The price is testing this mark at the moment.
Sentiment:
This indicator shows that 69% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d11/2103/d8/14ad7cb4cc94.png
Consider Short Positions:
Given all these factors, we may regard a breakdown of the support level, which will allow us to open short positions. The move must be supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 300 points.
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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