Strong Bearish Signal:
The price demonstrated a huge drop supported by large institutional volume and tested the support level. It could not break it down, but is still trading near it. Besides it, the large negative delta means that sellers are dominating the market.
Volume Zones:
It is necessary to point out the strong support level 1487.50.
Sentiment:
This indicator shows that 54% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d00/1909/52/1d6152e5c0a3.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 short positions. The drop must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss should be placed above the breakdown volume bar.
Profit Potential:
More than 300 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The price demonstrated a huge drop supported by large institutional volume and tested the support level. It could not break it down, but is still trading near it. Besides it, the large negative delta means that sellers are dominating the market.
Volume Zones:
It is necessary to point out the strong support level 1487.50.
Sentiment:
This indicator shows that 54% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d00/1909/52/1d6152e5c0a3.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 short positions. The drop must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss should be placed above the breakdown volume bar.
Profit Potential:
More than 300 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
