Strong Bearish Signal:
The price corrected upwards, however, is failed to continue rising and sharply fell down. The downward movement totally swallowed this surge, which shows the weakness of buyers. The large volume during the drop means that the smart money propelled the pair down.
Volume Zones:
We need to point out the new support level of support/local minimum 1.1625.
Consider Short Positions:
Given all these factors, we may regard a scenario of the new support level breakdown, which will consent us to open short positions. The sink 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, however, is failed to continue rising and sharply fell down. The downward movement totally swallowed this surge, which shows the weakness of buyers. The large volume during the drop means that the smart money propelled the pair down.
Volume Zones:
We need to point out the new support level of support/local minimum 1.1625.
Consider Short Positions:
Given all these factors, we may regard a scenario of the new support level breakdown, which will consent us to open short positions. The sink 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 -
