Strong Bearish Signal:
The pair demonstrated a huge drop supported by the large institutional volume and broke through the previous support level. Moreover, the large negative delta means that there is a significant sales imbalance.
Volume Zones:
We need to point out the new support level 1854.00 - 1857.60, which contains the large volume. The price is currenty trading near it.
Sentiment:
This indicator shows that 65% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d09/2011/9d/802f6a45cc46.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a keen breakdown of the support level. The move must be 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 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 pair demonstrated a huge drop supported by the large institutional volume and broke through the previous support level. Moreover, the large negative delta means that there is a significant sales imbalance.
Volume Zones:
We need to point out the new support level 1854.00 - 1857.60, which contains the large volume. The price is currenty trading near it.
Sentiment:
This indicator shows that 65% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d09/2011/9d/802f6a45cc46.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a keen breakdown of the support level. The move must be 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 300 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
