Technical overview:
The price demonstrated a significant growth after the formation of the new support level. The move was sharp and supported by the large volume, however, the price is trading inside the local range right now.
Volume Zones:
It is important to point out the boundaries of the local consolidation. They are the support 1.1824 and the resistance 1.1952.
Consider New Positions:
Given all these factors, we may regard new positions only after the keen and confident exit of the price from the range. The breakout move must be supported by the large volume, which will be a more prcise signal for entering the market.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The price demonstrated a significant growth after the formation of the new support level. The move was sharp and supported by the large volume, however, the price is trading inside the local range right now.
Volume Zones:
It is important to point out the boundaries of the local consolidation. They are the support 1.1824 and the resistance 1.1952.
Consider New Positions:
Given all these factors, we may regard new positions only after the keen and confident exit of the price from the range. The breakout move must be supported by the large volume, which will be a more prcise signal for entering the market.
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.