Strong Bearish Signal:
The price corrected upwards after the test of the support level, however, the pair is still trading nigh this mark. Moreover, we have to allocate a strong local downtrend.
Volume Zones:
We need to point out the support level/local minimum 1.3106, which has already been tested by the price.
Sentiment:
This indicator shows that 81% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b29/2010/5c/0af9ba8a8dd3.pnghttps://b.radikal.ru/b29/2010/5c/0af9ba8a8dd3.png
Consider Short Positions:
Given all these factors, we may ponder a breakdown of the support level, which will allow us to open short positions. The breakdown move must be keen and supported by the large volume, which will be a more precise 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 price corrected upwards after the test of the support level, however, the pair is still trading nigh this mark. Moreover, we have to allocate a strong local downtrend.
Volume Zones:
We need to point out the support level/local minimum 1.3106, which has already been tested by the price.
Sentiment:
This indicator shows that 81% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b29/2010/5c/0af9ba8a8dd3.pnghttps://b.radikal.ru/b29/2010/5c/0af9ba8a8dd3.png
Consider Short Positions:
Given all these factors, we may ponder a breakdown of the support level, which will allow us to open short positions. The breakdown move must be keen and supported by the large volume, which will be a more precise 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 -
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.