Strong Bullish Signal:
The pair resumed rising on the increased volume, which shows that the smart money is interested in this surge. Moreover, there is a strong local uptrend, which is also a good bullish signal.
Volume Zones:
It is necessary to allocate the resistance level/local maximum 1.3968 - 1.3980. The price is trading near this mark at the moment.
Sentiment:
This indicator shows that 80% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d08/2108/c4/07dc099c07ad.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 should 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 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The pair resumed rising on the increased volume, which shows that the smart money is interested in this surge. Moreover, there is a strong local uptrend, which is also a good bullish signal.
Volume Zones:
It is necessary to allocate the resistance level/local maximum 1.3968 - 1.3980. The price is trading near this mark at the moment.
Sentiment:
This indicator shows that 80% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d08/2108/c4/07dc099c07ad.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 should 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 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.