Strong Bearish Signal:
The price resumed falling, moreover, the move is sharp and supported by the large institutional volume, which means that the smart money pushed the price down. Besides it, there is a strong local downtrend, which is also a strong bearish signal.
Volume Zones:
It is necessary to point out the resistance level 1.1384 - 1.1390, which contains the large volume.
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://b.radikal.ru/b39/2111/0c/1fbb579bba1c.png
Consider Short Positions:
Given all these factors, we should ponder exactly 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 resumed falling, moreover, the move is sharp and supported by the large institutional volume, which means that the smart money pushed the price down. Besides it, there is a strong local downtrend, which is also a strong bearish signal.
Volume Zones:
It is necessary to point out the resistance level 1.1384 - 1.1390, which contains the large volume.
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://b.radikal.ru/b39/2111/0c/1fbb579bba1c.png
Consider Short Positions:
Given all these factors, we should ponder exactly 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 -
