Strong Bullish Signal:
The pair showed a sharp growth and broke out the previous level of resistance. The move was on the large volume, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge.
Volume Zones:
We need to point out the new level of resistance 106.45-106.49, which contains the large volume. The pair is currently trading near this mark.
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 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:
Around 80 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 showed a sharp growth and broke out the previous level of resistance. The move was on the large volume, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge.
Volume Zones:
We need to point out the new level of resistance 106.45-106.49, which contains the large volume. The pair is currently trading near this mark.
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 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:
Around 80 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.