Strong Bullish Signal:
The price continued its sharp growth, which started last Friday. The movement was on the average volume, however, the price is trading above the new volume support level.
Volume Zones:
We need to point out an important level of support 1.2020 - 1.2026, which has been tested.
Sentiment:
This indicator shows that 76% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c23/2102/5b/bfff0c978800.png
Consider Long Positions:
Given all these factors, we may ponder long positions 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:
Approximately 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 price continued its sharp growth, which started last Friday. The movement was on the average volume, however, the price is trading above the new volume support level.
Volume Zones:
We need to point out an important level of support 1.2020 - 1.2026, which has been tested.
Sentiment:
This indicator shows that 76% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c23/2102/5b/bfff0c978800.png
Consider Long Positions:
Given all these factors, we may ponder long positions 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:
Approximately 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.