Strong Bearish Signal:
The price resumed falling after the breakdown of the support level. Given the recent sharp slump, this is a good signal for further dip of the pair.
Volume Zones:
it is necessary to point out the new volume resistance level 1.1761 - 1.1766. The price started falling exactly from this mark.
Sentiment:
This indicator shows that 83% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a42/2108/57/4acebe004ab4.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
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 resumed falling after the breakdown of the support level. Given the recent sharp slump, this is a good signal for further dip of the pair.
Volume Zones:
it is necessary to point out the new volume resistance level 1.1761 - 1.1766. The price started falling exactly from this mark.
Sentiment:
This indicator shows that 83% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a42/2108/57/4acebe004ab4.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
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 -
