Strong Bearish Signal:
The price demonstrated a huge drop supported by large institutional volume and negative delta. It shows a significant imbalance of sales at the moment.
Volume Zones:
It is necessary to point out the support level 1.1777 - 1.1790. The price is currently testing it.
Consider Short Positions:
Given all these factors, we may consider a scenario of the support level breakdown, it will be a great bearish momentum. The plunge must 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 large institutional volume and negative delta. It shows a significant imbalance of sales at the moment.
Volume Zones:
It is necessary to point out the support level 1.1777 - 1.1790. The price is currently testing it.
Consider Short Positions:
Given all these factors, we may consider a scenario of the support level breakdown, it will be a great bearish momentum. The plunge must 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 -
