Strong Bearish Signal:
The pair demonstrated a huge drop supported by the large institutional volume and on the large negative delta.
Volume Levels:
We need to point out the new level of support 1.1278, which contains the large volume and stopped the fall of the price on Friday.
Sentiment:
This indicator shows that 63% of retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://imageshack.com/i/plB81kwlp
Consider Short Positions:
Given all these factors, we may consider short positions. We may enter the market after a sharp and confident breakdown of the new support level. The move must be supported by the large volume, in order to insure us against a fake breakdown. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
Our first target is the level 1.1180.
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 large institutional volume and on the large negative delta.
Volume Levels:
We need to point out the new level of support 1.1278, which contains the large volume and stopped the fall of the price on Friday.
Sentiment:
This indicator shows that 63% of retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://imageshack.com/i/plB81kwlp
Consider Short Positions:
Given all these factors, we may consider short positions. We may enter the market after a sharp and confident breakdown of the new support level. The move must be supported by the large volume, in order to insure us against a fake breakdown. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
Our first target is the level 1.1180.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
