Strong Bullish Signal:
The price resumed rising and totally swallowed the previous downward correction, it means that the interest of the smart money to purchases returned. Moreover, it is necessary to allocate the strong local uptrend with this currency pair.
Volume Zones:
We need to point out an important level of resistance/local maximum 109.19. The price is trading near this mark at the moment.
Sentiment:
This indicator shows that 88% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b42/2103/e7/47dd43c27f1e.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 surge must be sharp and supported by the large volume, which will be a more secure 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 and totally swallowed the previous downward correction, it means that the interest of the smart money to purchases returned. Moreover, it is necessary to allocate the strong local uptrend with this currency pair.
Volume Zones:
We need to point out an important level of resistance/local maximum 109.19. The price is trading near this mark at the moment.
Sentiment:
This indicator shows that 88% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b42/2103/e7/47dd43c27f1e.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 surge must be sharp and supported by the large volume, which will be a more secure 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.