Strong Bearish Signal:
The price continued falling and broke down the previous support level. The movement was sharp, supported by the large volume and increased negative delta. All these factors denotes that institutional sellers pushed the price down.
Volume Zones:
We need to point out the new level of support 16.78, which contains the large volume. Now the price is trading near this mark.
Sentiment:
This indicator shows that 78% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c34/1911/49/37bb408e6eb1.png
Consider Short Positions:
Given all these factors, we may regard a scenario of the breakdown of the support level, which will consent us to open short positions. The movement must be keen, confident and supported by the large volume, which will be a more precise signal for entering the market. A stop loss should be placed above the breakdown volume bar.
Profit Potential:
More than 60 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 and broke down the previous support level. The movement was sharp, supported by the large volume and increased negative delta. All these factors denotes that institutional sellers pushed the price down.
Volume Zones:
We need to point out the new level of support 16.78, which contains the large volume. Now the price is trading near this mark.
Sentiment:
This indicator shows that 78% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c34/1911/49/37bb408e6eb1.png
Consider Short Positions:
Given all these factors, we may regard a scenario of the breakdown of the support level, which will consent us to open short positions. The movement must be keen, confident and supported by the large volume, which will be a more precise signal for entering the market. A stop loss should be placed above the breakdown volume bar.
Profit Potential:
More than 60 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
