Strong Bullish Signal:
The pair demonstrated a sharp rise and now is trading near the level of resistance. The surge was supported by the large volume and on the positive delta, which means that the smart money pushed the price up.
Volume Zones:
We need to point out the strong volume level of resistance 112.00. It is also an upper limit of the local range.
Sentiment:
This indicator shows that 94% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img923/4527/rOXP9b.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will allow us to open long positions. The growth should be keen and supported by the large volume, which will insure us against a fake breakout. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 100 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 demonstrated a sharp rise and now is trading near the level of resistance. The surge was supported by the large volume and on the positive delta, which means that the smart money pushed the price up.
Volume Zones:
We need to point out the strong volume level of resistance 112.00. It is also an upper limit of the local range.
Sentiment:
This indicator shows that 94% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img923/4527/rOXP9b.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will allow us to open long positions. The growth should be keen and supported by the large volume, which will insure us against a fake breakout. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 100 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.