Strong Bullish Signal:
The pair showed a sharp growth and is testing the level of resistance now. Given that there is a strong local uptrend, we still should prefer long positions.
Volume Zones:
We need to point out an important level of resistance/local maximum 1.1900.
Sentiment:
This indicator shows that 80% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b05/2008/94/3e721c69df12.png
Consider Long Positions:
Given all these factors, we may reckon a scenario of the breakout of the resistance, which will be a great bullish signal. The rise should be abrupt and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed below the breakout volume bar.
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 pair showed a sharp growth and is testing the level of resistance now. Given that there is a strong local uptrend, we still should prefer long positions.
Volume Zones:
We need to point out an important level of resistance/local maximum 1.1900.
Sentiment:
This indicator shows that 80% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b05/2008/94/3e721c69df12.png
Consider Long Positions:
Given all these factors, we may reckon a scenario of the breakout of the resistance, which will be a great bullish signal. The rise should be abrupt and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed below the breakout volume bar.
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.