Strong Bullish Signal:
The price continued rising, which is a good signal for the further endurance of the local uptrend.
Volume Zones:
We need to point out the new level of support 1961.00 - 1966.50, which contains the large volume. The price is trading above it right now.
Sentiment:
This indicator shows that 60% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c25/2008/a4/c5728ef78030.png
Consider Long Positions:
Given all these factors, we may regard long positions. However, we may consider purchases only after a smooth downward correction of the price, in order to get a better entry point. A stop loss may be placed below the support level.
Profit Potential:
More than 300 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 continued rising, which is a good signal for the further endurance of the local uptrend.
Volume Zones:
We need to point out the new level of support 1961.00 - 1966.50, which contains the large volume. The price is trading above it right now.
Sentiment:
This indicator shows that 60% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c25/2008/a4/c5728ef78030.png
Consider Long Positions:
Given all these factors, we may regard long positions. However, we may consider purchases only after a smooth downward correction of the price, in order to get a better entry point. A stop loss may be placed below the support level.
Profit Potential:
More than 300 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.