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EURUSD SHORT on Order Flow


Strong Bearish Signal:
The price demonstrated a huge drop supported by the large negative delta, which shows that sellers are dominating the market. Moreover, there is a strong local downtrend.
Volume Zones:
We need to point out the new support level 1.1531 – 1.1536, which contains increased volume . The price corrected upward after its formation.
Sentiment:
This indicator shows that 77% retails traders are in long positions, which is a good additional signal for us (trading against the “crowd”).
https://d.radikal.ru/d20/2110/6d/24eafa2a6bb2.png
Consider Short Positions:
Given all these factors, we may regard a breakdown of the support level , which will allow us to open sales. The move must be keen and supported by the large volume , which will be a more accurate 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 –



Read more here

See also  GBP/USD SHORT