Strong Bearish Signal:
The price demonstrated an abrupt fall supported by the large volume. Moreover, the move was accompanied with a huge negative delta, which means that sellers are dominating the market now.
Volume Zones:
It is necessary to point out the level of support/local minimum 25.01 - 25.08. The price is currently testing this mark.
Sentiment:
This indicator shows that 78% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b25/2103/20/7b8c044c4f40.png
Consider Short Positions:
Given all these factors, we may cogitate a scenario of the support level breakdown, which will entitle us to open sales. The plunge must be keen and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 50 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 an abrupt fall supported by the large volume. Moreover, the move was accompanied with a huge negative delta, which means that sellers are dominating the market now.
Volume Zones:
It is necessary to point out the level of support/local minimum 25.01 - 25.08. The price is currently testing this mark.
Sentiment:
This indicator shows that 78% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b25/2103/20/7b8c044c4f40.png
Consider Short Positions:
Given all these factors, we may cogitate a scenario of the support level breakdown, which will entitle us to open sales. The plunge must be keen and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 50 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
