Strong Bullish Signal:
The price went on rising and broke out the previous resistance level. The move was supported by the large volume, which denotes that the smart money propelled the price upwards. Besides it, there is a strong local uptrend with gold.
Volume Zones:
It is necessary to point out the new resistance level/local maximum 1735.40 - 1740.40. The price is currently testing this mark.
Sentiment:
This indicator shows that 72% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d36/2105/09/33b11a8ae8f9.png
Consider Long Positions:
Given all these factors, we may cogitate a breakout of the resistance, which will be a great signal for further uptrend continuation. The growth must be keen and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 400 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 went on rising and broke out the previous resistance level. The move was supported by the large volume, which denotes that the smart money propelled the price upwards. Besides it, there is a strong local uptrend with gold.
Volume Zones:
It is necessary to point out the new resistance level/local maximum 1735.40 - 1740.40. The price is currently testing this mark.
Sentiment:
This indicator shows that 72% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d36/2105/09/33b11a8ae8f9.png
Consider Long Positions:
Given all these factors, we may cogitate a breakout of the resistance, which will be a great signal for further uptrend continuation. The growth must be keen and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 400 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.