Strong Bearish Signal:
The pair tested the support level, but could not break it down. Nevertheless, the move was supported by the increased volume + there is a strong downtrend, which are good bearish signals.
Volume Zones:
It is necessary to allocate the level of support/local minimum 1.1531 - 1.1536. The price is trading nigh this mark now.
Sentiment:
This indicator shows that 71% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b17/2110/2e/b1141b2acccc.png
Consider Short Positions:
Given all these factors, we should regard a breakdown of the support level, which will be a great signal for further fall of the price, The breakdown movement 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 pair tested the support level, but could not break it down. Nevertheless, the move was supported by the increased volume + there is a strong downtrend, which are good bearish signals.
Volume Zones:
It is necessary to allocate the level of support/local minimum 1.1531 - 1.1536. The price is trading nigh this mark now.
Sentiment:
This indicator shows that 71% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b17/2110/2e/b1141b2acccc.png
Consider Short Positions:
Given all these factors, we should regard a breakdown of the support level, which will be a great signal for further fall of the price, The breakdown movement 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 -
