Strong Bearish Signal:
The price demonstrated a confident and sharp fall supported by the large institutional volume and swallowed the previous upward correction. It shows that buyers don't have a power to propel the price further up.
Volume Zones:
The price is testing the support level/local minimum 24.54 - 24.61.
Sentiment:
This indicator shows that 83% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c20/2103/47/7f094d92d166.png
Consider Short Positions:
Given all these factors, we may reckon a scenario of the support level breakdown, which will allow us to open short positions. The move must be keen and 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 60 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 confident and sharp fall supported by the large institutional volume and swallowed the previous upward correction. It shows that buyers don't have a power to propel the price further up.
Volume Zones:
The price is testing the support level/local minimum 24.54 - 24.61.
Sentiment:
This indicator shows that 83% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c20/2103/47/7f094d92d166.png
Consider Short Positions:
Given all these factors, we may reckon a scenario of the support level breakdown, which will allow us to open short positions. The move must be keen and 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 60 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
