Strong Bearish Signal:
The price demonstrated a huge drop supported by large institutional volume, which implies that institutional players pushed the pair down. Furthermore, the large negative delta means that bears are still ruling the market.
Volume Zones:
It is necessary to point out the level of resistance 1.1088, which contains the large volume. Moreover, it's been already tested several times.
Sentiment:
This indicator shows that 73% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c35/1911/0a/4cea6a17c896.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
Profit Potential:
More than 120 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, which implies that institutional players pushed the pair down. Furthermore, the large negative delta means that bears are still ruling the market.
Volume Zones:
It is necessary to point out the level of resistance 1.1088, which contains the large volume. Moreover, it's been already tested several times.
Sentiment:
This indicator shows that 73% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c35/1911/0a/4cea6a17c896.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
Profit Potential:
More than 120 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
