Strong Bullish Signal:
The price continued growing, moreover, the movement was sharp and supported by the large volume. It significantly increases the probability of the further uptrend. Besides it, the huge positive delta illustrates the large imbalance of purchases at the moment.
Volume Zones:
We need to allocated the new level of support 1.1620 - 1.1632, which contains the large volume.
Sentiment:
This indicator shows that 84% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b43/2007/45/ca5e0889e993.png
Consider Long Positions:
Given all these factors, we should reckon 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 new support level.
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 -
The price continued growing, moreover, the movement was sharp and supported by the large volume. It significantly increases the probability of the further uptrend. Besides it, the huge positive delta illustrates the large imbalance of purchases at the moment.
Volume Zones:
We need to allocated the new level of support 1.1620 - 1.1632, which contains the large volume.
Sentiment:
This indicator shows that 84% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b43/2007/45/ca5e0889e993.png
Consider Long Positions:
Given all these factors, we should reckon 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 new support level.
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 -
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.