Strong Bullish Signal:
The pair demonstrated a sharp rise supported by large institutional volume and positive delta. The price is currently trading near the local maximum.
Volume Zones:
We need to point the crucial resistance level 60.30, which contains the large volume.
Sentiment:
This indicator shows that 70% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imageshack.com/i/povDHEeyp
Consider Long Positions:
Given all these factors, we may consider a scenario of a breakout of the resistance, which will be a great bullish signal. The breakout move must be keen 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 150 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 supported by large institutional volume and positive delta. The price is currently trading near the local maximum.
Volume Zones:
We need to point the crucial resistance level 60.30, which contains the large volume.
Sentiment:
This indicator shows that 70% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imageshack.com/i/povDHEeyp
Consider Long Positions:
Given all these factors, we may consider a scenario of a breakout of the resistance, which will be a great bullish signal. The breakout move must be keen 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 150 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.