Strong Bullish Signal:
The pair showed a sharp growth and broke out the level of resistance. Moreover, the movement was supported by the huge volume, which shows that large dis-balance of purchases. It implies the large exceed of demand over supply. The increased positive delta only confirms our statement.
Volume Zones:
Unfortunately, the volume was evenly spread across the chart, hence, we ca't allocate any new volume levels or zones.
Sentiment:
This indicator shows that 64% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d17/2004/e1/7291e9d39861.png
Consider Long Positions:
Given all these factors, should give preference to long positions. We can enter the market after a continuation of this rise supported by the large volume, which will be a more precise signal for entering the market. Furthermore, it will give us a good location for a stop loss - below the beginning of this surge.
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 pair showed a sharp growth and broke out the level of resistance. Moreover, the movement was supported by the huge volume, which shows that large dis-balance of purchases. It implies the large exceed of demand over supply. The increased positive delta only confirms our statement.
Volume Zones:
Unfortunately, the volume was evenly spread across the chart, hence, we ca't allocate any new volume levels or zones.
Sentiment:
This indicator shows that 64% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d17/2004/e1/7291e9d39861.png
Consider Long Positions:
Given all these factors, should give preference to long positions. We can enter the market after a continuation of this rise supported by the large volume, which will be a more precise signal for entering the market. Furthermore, it will give us a good location for a stop loss - below the beginning of this surge.
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.