Strong Bullish Signal:
The price corrected downwards, but then resumed rising. The movement was keen and supported by the large volume, which shows that there is a significant imbalance of long positions.
Volume Zones:
We need to allocate the new volume level of support 1.2038 - 1.2049, which has been already tested.
Sentiment:
This indicator shows that 86% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b41/2012/60/b4f7feff8d90.png
Consider Long Positions:
Given all these factors, we may cogitate purchases after a smooth and slight downward correction of the price, in order to get a better entry point. A stop loss may be placed below the 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 corrected downwards, but then resumed rising. The movement was keen and supported by the large volume, which shows that there is a significant imbalance of long positions.
Volume Zones:
We need to allocate the new volume level of support 1.2038 - 1.2049, which has been already tested.
Sentiment:
This indicator shows that 86% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b41/2012/60/b4f7feff8d90.png
Consider Long Positions:
Given all these factors, we may cogitate purchases after a smooth and slight downward correction of the price, in order to get a better entry point. A stop loss may be placed below the 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.