Strong Bullish Signal:
The pair demonstrated a sharp surge and broke out the previous level of resistance. The growth was on the increased volume, so that we may assume that the smart money pushed the price up. Moreover, the large positive delta points that buyers are dominating the market now.
Volume Zones:
Unfortunately we can't allocate any new volume level or zone as the volume was evenly spread throught the chart.
Sentiment:
This indicator shows that 94% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d38/1906/7e/10101e207765.png
Consider Long Positions:
Given all these factors, we may regard exceptionally long positions. We may enter the market after a smooth downward correction of the price in order to get a better entry point. A stop loss should be placed below the beginning of the breakout movement.
Profit Potential:
More than 100 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The pair demonstrated a sharp surge and broke out the previous level of resistance. The growth was on the increased volume, so that we may assume that the smart money pushed the price up. Moreover, the large positive delta points that buyers are dominating the market now.
Volume Zones:
Unfortunately we can't allocate any new volume level or zone as the volume was evenly spread throught the chart.
Sentiment:
This indicator shows that 94% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d38/1906/7e/10101e207765.png
Consider Long Positions:
Given all these factors, we may regard exceptionally long positions. We may enter the market after a smooth downward correction of the price in order to get a better entry point. A stop loss should be placed below the beginning of the breakout movement.
Profit Potential:
More than 100 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.