Strong Bullish Signal:
The price restarted growing and broke out the previous resistance level, which is a good bullish signal. Moreover, the surge was supported by the large volume and positive delta, which demonstrate that buyers are dominating the market now.
Volume Zones:
It is necessary to allocate the new volume level of support 1.1864. The price resumed rising exactly from this point.
Sentiment:
This indicator shows that 74% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a10/2104/47/108dfcc86a8f.png
Consider Long Positions:
Given all these factors, we should prefer long positions. We may enter the market after a smooth downward correction, in order to get a better entry point. A stop loss may be placed below the new support level.
Profit Potential:
Around 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 restarted growing and broke out the previous resistance level, which is a good bullish signal. Moreover, the surge was supported by the large volume and positive delta, which demonstrate that buyers are dominating the market now.
Volume Zones:
It is necessary to allocate the new volume level of support 1.1864. The price resumed rising exactly from this point.
Sentiment:
This indicator shows that 74% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a10/2104/47/108dfcc86a8f.png
Consider Long Positions:
Given all these factors, we should prefer long positions. We may enter the market after a smooth downward correction, in order to get a better entry point. A stop loss may be placed below the new support level.
Profit Potential:
Around 100 pips.
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.