Strong Bearish Signal:
The price demonstrated a huge drop supported by large institutional volume and broke through the previous support level. Moreover, the large negative delta shows that there is a large imbalance of the sales.
Volume Zones:
We need to point out the support level 1.420 - 1.445. The price is now trading inside it.
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after the breakdown of the support level. The movement must be keen and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss should be placed above the breakdown volume bar.
Profit Potential:
More than 200 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 demonstrated a huge drop supported by large institutional volume and broke through the previous support level. Moreover, the large negative delta shows that there is a large imbalance of the sales.
Volume Zones:
We need to point out the support level 1.420 - 1.445. The price is now trading inside it.
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after the breakdown of the support level. The movement must be keen and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss should be placed above the breakdown volume bar.
Profit Potential:
More than 200 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
