Strong Bearish Signal:
The demonstrated a sharp drop supported by increased institutional volume and negative delta. Moreover, the previous growth was totally swallowed by this fall, which points the weakness of buyers at the moment.
Volume Zones:
We need to allocate the support level/lower boundary of the consolidation 1.0780 - 1.0791. Now the price is testing this mark.
Sentiment:
This indicator shows that 65% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b40/2004/8a/908523cb89ea.png
Consider Short Positions:
Given all these factors, we may reckon a breakdown of the support level, which will allow us to open short positions. The breakdown movement must be supported by the large volume, which will be a more reliable signal for entering the market. A stop loss should be placed above the breakdown volume bar.
Profit Potential:
Around 130 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The demonstrated a sharp drop supported by increased institutional volume and negative delta. Moreover, the previous growth was totally swallowed by this fall, which points the weakness of buyers at the moment.
Volume Zones:
We need to allocate the support level/lower boundary of the consolidation 1.0780 - 1.0791. Now the price is testing this mark.
Sentiment:
This indicator shows that 65% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b40/2004/8a/908523cb89ea.png
Consider Short Positions:
Given all these factors, we may reckon a breakdown of the support level, which will allow us to open short positions. The breakdown movement must be supported by the large volume, which will be a more reliable signal for entering the market. A stop loss should be placed above the breakdown volume bar.
Profit Potential:
Around 130 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
