Strong Bearish Signal:
The pair demonstrated a sharp drop supported by large institutional volume and broke through the previous support level. Moreover, increased negative delta shows that sellers are still dominating in the market.
Volume Zones:
This formed a new level of resistance, which contains large market participants volume and was created during this move from 1.1131 – 1.1140.
Sentiment:
This indicator shows that 73% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b07/2001/80/a0b4d0556959.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may 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 - https://www.tradingview.com/chart/EURUSD/3Epq2KQW-Profiting-from-Order-Flow-How-to-follow-the-Institutional-Money/