Strong Bullish Signal:
The price continued rising after a recent sharp surge supported by the large volume and positive delta. Moreover, this move has totally absorbed the previous fall, which is a good sellers weakness indicator.
Volume Zones:
We need to point out the new level of support 1880.30 - 1883.30, which contains the large volume.
Sentiment:
This indicator shows that 63% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a30/2106/b3/f213aaa1721d.png
Consider Long Positions:
Given all these factors, we may ponder long positions after a smooth downward correction of the price, in order to get a more profitable entry point. A stop loss may be placed below the new support level.
Profit Potential:
More than 250 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 after a recent sharp surge supported by the large volume and positive delta. Moreover, this move has totally absorbed the previous fall, which is a good sellers weakness indicator.
Volume Zones:
We need to point out the new level of support 1880.30 - 1883.30, which contains the large volume.
Sentiment:
This indicator shows that 63% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a30/2106/b3/f213aaa1721d.png
Consider Long Positions:
Given all these factors, we may ponder long positions after a smooth downward correction of the price, in order to get a more profitable entry point. A stop loss may be placed below the new support level.
Profit Potential:
More than 250 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.