Strong Bullish Signal:
The pair showed a sharp growth and broke out the previous level of resistance. This movement was supported by the large volume and positive delta, which means that buyers are prevailing the market.
Volume Zones:
It's necessary to allocate the new level of support 108.42, which contains the large volume.
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://a.radikal.ru/a40/1907/92/a69eda32c019.png
Consider Long Positions:
Given all these factors, we should give preference to long positions. We may enter the market after a smooth 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 pair showed a sharp growth and broke out the previous level of resistance. This movement was supported by the large volume and positive delta, which means that buyers are prevailing the market.
Volume Zones:
It's necessary to allocate the new level of support 108.42, which contains the large volume.
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://a.radikal.ru/a40/1907/92/a69eda32c019.png
Consider Long Positions:
Given all these factors, we should give preference to long positions. We may enter the market after a smooth 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.