Strong Bullish Signal:
The price resumed rising after a smooth downward correction. Now the price is testing the level of resistance. Moreover, we need to point out the recent sharp growth and the presence of the local uptrend.
Volume Zones:
We need to allocated an important level of resistance/local maximum 109.63.
Sentiment:
This indicator shows that 90% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c42/2001/9f/e4ade1dd1078.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 keen and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 110 points.
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 after a smooth downward correction. Now the price is testing the level of resistance. Moreover, we need to point out the recent sharp growth and the presence of the local uptrend.
Volume Zones:
We need to allocated an important level of resistance/local maximum 109.63.
Sentiment:
This indicator shows that 90% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c42/2001/9f/e4ade1dd1078.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 keen and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 110 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.