Current Situation:
The price is located within the local consolidation, where the large volume is concentrated. It means that the smart money are getting their positions inside it before the next keen move.
Volume Zones:
The boundaries of the range are the support 1.2205 and the resistance 1.2615.
Sentiment:
This indicator shows that 60% retails traders are in long positions, which is a good bearish signal for us (trading against the "crowd").
https://b.radikal.ru/b06/2005/7f/64e840bc99bf.png
Consider New Positions:
Given all these factors, we may consider new positions only after the keen and confident exit of the price from the consolidation. The breakout movement must be supported by the large volume, which will be a more accurate 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 is located within the local consolidation, where the large volume is concentrated. It means that the smart money are getting their positions inside it before the next keen move.
Volume Zones:
The boundaries of the range are the support 1.2205 and the resistance 1.2615.
Sentiment:
This indicator shows that 60% retails traders are in long positions, which is a good bearish signal for us (trading against the "crowd").
https://b.radikal.ru/b06/2005/7f/64e840bc99bf.png
Consider New Positions:
Given all these factors, we may consider new positions only after the keen and confident exit of the price from the consolidation. The breakout movement must be supported by the large volume, which will be a more accurate 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.