Strong Bullish Signal:
The price demonstrated a huge growth supported by large institutional volume, which is a great bullish signal. Moreover, the large positive delta indicates that buyers were dominating the market.
Volume Zones:
The new volume level of support 63.80 was created during this upward movement.
Sentiment:
This indicator shows that 89% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img924/160/ogMNzB.png
Consider Long Positions:
Given all these factors, we should consider exceptionally long positions. We may enter the market after a smooth downward correction, in order to get a more profitable entry point. A stop loss may be placed below the beginning of the surge.
Profit Potential:
More than 170 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 demonstrated a huge growth supported by large institutional volume, which is a great bullish signal. Moreover, the large positive delta indicates that buyers were dominating the market.
Volume Zones:
The new volume level of support 63.80 was created during this upward movement.
Sentiment:
This indicator shows that 89% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img924/160/ogMNzB.png
Consider Long Positions:
Given all these factors, we should consider exceptionally long positions. We may enter the market after a smooth downward correction, in order to get a more profitable entry point. A stop loss may be placed below the beginning of the surge.
Profit Potential:
More than 170 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.