Strong Bearish Signal:
The price demonstrated a huge drop supported by the large institutional volume, which shows an imbalance of sales now.
Volume Zones:
It is necessary to highlight the level of support/lower boundary of the local range 1785.50, which contains the large volume.
Sentiment:
This indicator shows that 72% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b21/2109/f5/e1ae5df6a742.png
Consider Short Positions:
Given all these factors, we may regard a breakdown of the support level, which will allow us to open sales. The move must be keen and 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:
Around 300 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 an imbalance of sales now.
Volume Zones:
It is necessary to highlight the level of support/lower boundary of the local range 1785.50, which contains the large volume.
Sentiment:
This indicator shows that 72% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b21/2109/f5/e1ae5df6a742.png
Consider Short Positions:
Given all these factors, we may regard a breakdown of the support level, which will allow us to open sales. The move must be keen and 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:
Around 300 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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