Strong Bullish Signal:
The price continued rising and broke out the previous resistance level, which is a great signal for a further endurance of the uptrend.
Volume Zones:
We need to allocate an important level of resistance/local maximum 1870.60 - 1874.60.
Sentiment:
This indicator shows that 69% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a43/2105/f8/eafa98757dac.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a great bullish signal. The rise have to be abrupt 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 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 and broke out the previous resistance level, which is a great signal for a further endurance of the uptrend.
Volume Zones:
We need to allocate an important level of resistance/local maximum 1870.60 - 1874.60.
Sentiment:
This indicator shows that 69% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a43/2105/f8/eafa98757dac.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a great bullish signal. The rise have to be abrupt 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 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.