Strong Bearish Signal: The price showed a huge drop supported by the large institutional volume and significant negative delta. It means that there is a huge sales imbalance and sellers are dominating the market right now. Volume Zones: It is necessary to point out the support level/local minimum 1833.60 - 1837.20. The price is trading near it now. Sentiment: This indicator shows that 68% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd"). https://d.radikal.ru/d17/2101/c4/a6f7c794566e.png Consider Short Positions: Given all these factors, we may ponder a breakdown of the support level breakdown, which will consent us to open short positions. The sink must be keen and supported by the large volume, which will be a more precise signal for entering the market. A stop loss should be located above the breakdown volume bar. Profit Potential: More than 300 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -