Strong Bearish Signal: The price tested the resistance level and then resumed falling. The move was keen and confident. Moreover, there is a strong local downtrend. Volume Zones: It is necessary to allocate an important level of resistance 1.1743 - 1.1747, which contains the large volume. Sentiment: This indicator shows that 72% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd"). https://d.radikal.ru/d22/2109/a8/91bb967137b3.png Consider Short Positions: Given all these factors, we should consider exceptionally short positions. We may 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 80 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
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