Strong Bearish Signal:
The pair tested the resistance level and then demonstrated a huge drop supported by large institutional volume. The large negative delta only supports the power of the movement.
Volume Zones:
We need to point out the new volume level of resistance 1.3242.
Sentiment:
This indicator shows that 88% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a37/1909/79/2dfa7d3e2990.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 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 tested the resistance level and then demonstrated a huge drop supported by large institutional volume. The large negative delta only supports the power of the movement.
Volume Zones:
We need to point out the new volume level of resistance 1.3242.
Sentiment:
This indicator shows that 88% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a37/1909/79/2dfa7d3e2990.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 100 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
