Strong Bullish Signal:
The price showed a confident and abrupt growth supported by both HUGE volume and positive delta, which illustrates the power of buyers.
Volume Zones:
We need to allocated an important level of support 18.035, which contains the large volume. The price started rising after the formation of this mark.
Sentiment:
This indicator shows that 56% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a18/2001/23/ae85807d2ddb.png
Consider Long Positions:
Given all these factors, we should give preference to long positions. We may enter the market after a smooth and slight downward correction of the price, in order to get a better entry point. A stop loss should be placed below the level of support.
Profit Potential:
More than 60 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 showed a confident and abrupt growth supported by both HUGE volume and positive delta, which illustrates the power of buyers.
Volume Zones:
We need to allocated an important level of support 18.035, which contains the large volume. The price started rising after the formation of this mark.
Sentiment:
This indicator shows that 56% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a18/2001/23/ae85807d2ddb.png
Consider Long Positions:
Given all these factors, we should give preference to long positions. We may enter the market after a smooth and slight downward correction of the price, in order to get a better entry point. A stop loss should be placed below the level of support.
Profit Potential:
More than 60 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.