Strong Bullish Signal:
The price continued rising and broke out the previous level of resistance. Moreover, the movement was sharp, supported by the large volume and positive delta. It means that the smart money pushed the pair upwards.
Volume Zones:
We should point out the level of resistance/local maximum 109.63. Now the price is trading near this mark.
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://c.radikal.ru/c04/2001/7b/9d950fbc7dcc.png
Consider Long Positions:
Given all these factors, we may consider a scenario of the breakout of the resistance, which will allow us to open long positions. The growth must be keen and supported by the large volume, which will be a more secure and precise signal for entering the market. A stop loss may be placed below the breakout volume bar.
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 price continued rising and broke out the previous level of resistance. Moreover, the movement was sharp, supported by the large volume and positive delta. It means that the smart money pushed the pair upwards.
Volume Zones:
We should point out the level of resistance/local maximum 109.63. Now the price is trading near this mark.
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://c.radikal.ru/c04/2001/7b/9d950fbc7dcc.png
Consider Long Positions:
Given all these factors, we may consider a scenario of the breakout of the resistance, which will allow us to open long positions. The growth must be keen and supported by the large volume, which will be a more secure and precise signal for entering the market. A stop loss may be placed below the breakout volume bar.
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.