Strong Bullish Signal:
The price continued rising yesterday. The movement was supported by the large volume and positive delta, which means that institutional players are prevailing the market. It increases the possibility of the further surge.
Volume Zones:
We need to allocated an important level of support 17.40.
Sentiment:
This indicator shows that 65% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d08/1908/8b/51523dfd92cf.png
Consider Long Positions:
Given all these factors, we should give advantage to long positions. We may enter the market after a smooth downward correction, in oder to get an acceptable entry point. A stop loss may be placed below the support level.
Profit Potential:
More than 50 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 yesterday. The movement was supported by the large volume and positive delta, which means that institutional players are prevailing the market. It increases the possibility of the further surge.
Volume Zones:
We need to allocated an important level of support 17.40.
Sentiment:
This indicator shows that 65% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d08/1908/8b/51523dfd92cf.png
Consider Long Positions:
Given all these factors, we should give advantage to long positions. We may enter the market after a smooth downward correction, in oder to get an acceptable entry point. A stop loss may be placed below the support level.
Profit Potential:
More than 50 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.