Strong Bullish Signal:
The price resumed rising after a local consolidation. The move was sharp and confident, which is a good signal of the uptrend continuation.
Volume Zones:
We need to point out an important level of support 113.30, which contains the large volume.
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://b.radikal.ru/b38/2110/01/a831611e1820.png
Consider Long Positions:
Given all these factors, we may regard long positions after a smooth downward correction of the price, in order to get a more profitable entry point. A stop loss may be placed below the support level.
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 local consolidation. The move was sharp and confident, which is a good signal of the uptrend continuation.
Volume Zones:
We need to point out an important level of support 113.30, which contains the large volume.
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://b.radikal.ru/b38/2110/01/a831611e1820.png
Consider Long Positions:
Given all these factors, we may regard long positions after a smooth downward correction of the price, in order to get a more profitable entry point. A stop loss may be placed below the support level.
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.