Strong Bullish Signal:
The price resumed rising and almost totally swallowed the previous downward correction. The growth was sharp and supported by the increased volume, which shows that institutional players pushed the price upwards. Besides it, the strong uptrend, we should give preference to long positions.
Volume Zones:
We need to point out the level of resistance 1.3144 - 1.3165.
Sentiment:
This indicator shows that 71% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a31/2008/34/37d3546ef420.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a great bullish signal. The growth must be sharp and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 150 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 resumed rising and almost totally swallowed the previous downward correction. The growth was sharp and supported by the increased volume, which shows that institutional players pushed the price upwards. Besides it, the strong uptrend, we should give preference to long positions.
Volume Zones:
We need to point out the level of resistance 1.3144 - 1.3165.
Sentiment:
This indicator shows that 71% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a31/2008/34/37d3546ef420.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a great bullish signal. The growth must be sharp and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 150 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.