Strong Bearish Signal:
The price continued falling after the test of the resistance level. Moreover, we have to point out that there is a strong downtrend, which is a good bearish signal.
Volume Zones:
It is important to point out the strong and volume level of resistance 1.1638 - 1.1643.
Sentiment:
This indicator shows that 81% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a08/2110/e5/ac74dfd79634.png
Consider Short Positions:
Given all these factors, we should regard 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 continued falling after the test of the resistance level. Moreover, we have to point out that there is a strong downtrend, which is a good bearish signal.
Volume Zones:
It is important to point out the strong and volume level of resistance 1.1638 - 1.1643.
Sentiment:
This indicator shows that 81% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a08/2110/e5/ac74dfd79634.png
Consider Short Positions:
Given all these factors, we should regard 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 -
