Strong Bearish Signal:
The pair demonstrated a huge drop supported by the increased volume, which means that institutional players pushed the price down. Moreover, it's a good signal the downtrend will continue.
Volume Zones:
Besides it, we need to allocate the new volume level of resistance 1.3161.
Sentiment:
This indicator shows that 96% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a37/1906/4e/c7be8accf749.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
Profit Potential:
More than 100 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The pair demonstrated a huge drop supported by the increased volume, which means that institutional players pushed the price down. Moreover, it's a good signal the downtrend will continue.
Volume Zones:
Besides it, we need to allocate the new volume level of resistance 1.3161.
Sentiment:
This indicator shows that 96% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a37/1906/4e/c7be8accf749.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
Profit Potential:
More than 100 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.