Strong Bullish Signal:
The pair continued rising yesterday. The movement was confident, abrupt and supported by increased volume, which is a good indicator of the continuation of the local uptrend.
Volume Zones:
It's necessary to point out the new level of resistance 1512.00, which contains increased volume. However, the price did not show any sharp reaction and is still trading near this mark.
Sentiment:
This indicator shows that 67% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b04/1912/53/f794b13acc06.png
Consider Long Positions:
Given all these factors, we may reckon a continuation of the uptrend. Nevertheless, we may open long positions only after the keen breakout of the resistance. The surge must be supported by the large volume, which will be a more precise signal for entering the market. A stop loss should be placed below the breakout volume bar.
Profit Potential:
More than 200 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 continued rising yesterday. The movement was confident, abrupt and supported by increased volume, which is a good indicator of the continuation of the local uptrend.
Volume Zones:
It's necessary to point out the new level of resistance 1512.00, which contains increased volume. However, the price did not show any sharp reaction and is still trading near this mark.
Sentiment:
This indicator shows that 67% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b04/1912/53/f794b13acc06.png
Consider Long Positions:
Given all these factors, we may reckon a continuation of the uptrend. Nevertheless, we may open long positions only after the keen breakout of the resistance. The surge must be supported by the large volume, which will be a more precise signal for entering the market. A stop loss should be placed below the breakout volume bar.
Profit Potential:
More than 200 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.