Strong Bearish Signal:
The price showed a sharp drop supported by huge institutional volume and large negative delta. It means that the smart money still continues pushing the price down by opening short positions. Hence, the probability of downtrend endurance is quite high.
Volume Zones:
The price tested the resistance level 1.0926 - 1.0933 and then restarted falling, which increases an importance of this mark.
Sentiment:
This indicator shows that 91% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d23/2002/b0/10c9607b94fe.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 resistance level.
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 showed a sharp drop supported by huge institutional volume and large negative delta. It means that the smart money still continues pushing the price down by opening short positions. Hence, the probability of downtrend endurance is quite high.
Volume Zones:
The price tested the resistance level 1.0926 - 1.0933 and then restarted falling, which increases an importance of this mark.
Sentiment:
This indicator shows that 91% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d23/2002/b0/10c9607b94fe.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 resistance level.
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 -
