Strong Bullish Signal:
The price indicated a sharp and confident growth after a downward correction. The surge was supported by the huge volume, which means that the smart money pushed the pair upwards.
Volume Zones:
We need to allocated an important level of support 1.0960 - 1.0972, which contains the large volume. Moreover, the price resumed growing exactly after the test of this mark..
Sentiment:
This indicator shows that 82% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a19/2003/6a/e70f5d3b8b36.png
Consider Long Positions:
Given all these factors, we should give preference to long positions. We may enter the market after a smooth downward correction, in order to get an acceptable point. A stop loss should be placed below the support level.
Profit Potential:
More than 120 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The price indicated a sharp and confident growth after a downward correction. The surge was supported by the huge volume, which means that the smart money pushed the pair upwards.
Volume Zones:
We need to allocated an important level of support 1.0960 - 1.0972, which contains the large volume. Moreover, the price resumed growing exactly after the test of this mark..
Sentiment:
This indicator shows that 82% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a19/2003/6a/e70f5d3b8b36.png
Consider Long Positions:
Given all these factors, we should give preference to long positions. We may enter the market after a smooth downward correction, in order to get an acceptable point. A stop loss should be placed below the support level.
Profit Potential:
More than 120 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.