Strong Bearish Signal:
The price continued falling and broke down the previous support level. Moreover, the move was keen and supported by the large volume, which means that the smart money pushed the pair down.
Volume Zones:
This formed a new level of resistance, which contains large market participants volume and was created during this move from 1.1729 - 1.1735.
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 continued falling and broke down the previous support level. Moreover, the move was keen and supported by the large volume, which means that the smart money pushed the pair down.
Volume Zones:
This formed a new level of resistance, which contains large market participants volume and was created during this move from 1.1729 - 1.1735.
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 -
