Strong Bullish Signal:
The price demonstrated an abrupt and sharp growth supported by the large volume. Furthermore, the upward movement was supported by the increased positive delta, which shows a significant imbalance of purchases.
Volume Zones:
We need to allocated the new level of resistance 1814.20 - 1816.20, which is being tested now.
Sentiment:
This indicator shows that 80% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b12/2007/40/cb099c59ece6.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance level, which will be a great bullish signal. The rise must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 100 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 demonstrated an abrupt and sharp growth supported by the large volume. Furthermore, the upward movement was supported by the increased positive delta, which shows a significant imbalance of purchases.
Volume Zones:
We need to allocated the new level of resistance 1814.20 - 1816.20, which is being tested now.
Sentiment:
This indicator shows that 80% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b12/2007/40/cb099c59ece6.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance level, which will be a great bullish signal. The rise must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 100 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.