The price contineud falling and is now trading near the level of support. Moreover, the movement was supported by increased institutional and negative delta, which means that sellers pushed the price down.
It is necessary to point out the level of support 1.1185, that contains the large .
This indicator shows that 85% retails traders are in long positions, which is a good additional signal for us (trading against the “crowd”).
Consider Short Positions:
Given all these factors, we may consider a scenario of the breakdown of the support, which will consent us to open short positions. The movement must be keen and supported by the large , that will be a more reliable signal for entering the market. A stop loss should be placed above the breakdown bar.
More than 100 pips.