Strong Bearish Signal:
The pair demonstrated a huge drop supported by large institutional volume, which means that the smart money pushed the price down.
Volume Zones:
WE need to poiunt out the level of support 1.1116, which contains the large volume.
Sentiment:
This indicator shows that 86% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d03/1905/42/9908164eef50.png
Consider Short Positions:
Given all these factors, we may consider a scenario of the breakdown of the support, which will allow us to open sales. The breakdown move must be keen and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed above the breakdown volume bar.
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 large institutional volume, which means that the smart money pushed the price down.
Volume Zones:
WE need to poiunt out the level of support 1.1116, which contains the large volume.
Sentiment:
This indicator shows that 86% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d03/1905/42/9908164eef50.png
Consider Short Positions:
Given all these factors, we may consider a scenario of the breakdown of the support, which will allow us to open sales. The breakdown move must be keen and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed above the breakdown volume bar.
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 -
