Strong Bullish Signal:
The price resumed rising after the downward correction. Moreover, the movement was supported by the increased volume. It means that sellers don't have enough power to push the price further down and that bulls are dominating in the market now.
Volume Zones:
We need to allocated an important level of resistance 109.45, where the large volume is concentrated. Now the price is located naer it.
Sentiment:
This indicator shows that 84% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a06/1911/db/35899265566b.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 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:
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 the downward correction. Moreover, the movement was supported by the increased volume. It means that sellers don't have enough power to push the price further down and that bulls are dominating in the market now.
Volume Zones:
We need to allocated an important level of resistance 109.45, where the large volume is concentrated. Now the price is located naer it.
Sentiment:
This indicator shows that 84% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a06/1911/db/35899265566b.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 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:
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.