Strong Bearish Signal:
The price showed a significant and sharp slump supported by both large volume and negative delta. It means that sellers are dominating among institutional players, which is a strong bearish signal.
Volume Zones:
It is necessary to allocate the support level/local minimum 1.1713, which contains the large volume. The price is currently testing it.
Sentiment:
This indicator shows that 75% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c15/2108/2b/4beb294ba62e.png
Consider Short Positions:
Given all these factors, we should give preference to short positions. We may enter the market after keen breakdown of the support level. The move must be 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 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 showed a significant and sharp slump supported by both large volume and negative delta. It means that sellers are dominating among institutional players, which is a strong bearish signal.
Volume Zones:
It is necessary to allocate the support level/local minimum 1.1713, which contains the large volume. The price is currently testing it.
Sentiment:
This indicator shows that 75% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c15/2108/2b/4beb294ba62e.png
Consider Short Positions:
Given all these factors, we should give preference to short positions. We may enter the market after keen breakdown of the support level. The move must be 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 120 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
