Strong Bullish Signal:
The pair showed a sharp growth and is testing the level of resistance now. The move was on the large volume, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge.
Volume Zones:
We need to allocated an important level of resistance 1.0909 - 1.0923, which contains the large volume.
Sentiment:
This indicator shows that 65% retails traders are in long positions, which opposes our scenario. However, we need to state a presence of the changing of a balance. Hence, this indicator does not cancel our scenario, but we need to track its further changes.
https://d.radikal.ru/d25/2002/38/ea13735c4ec7.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 growth must be sharp and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
Around 90 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 is testing the level of resistance now. The move was on the large volume, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge.
Volume Zones:
We need to allocated an important level of resistance 1.0909 - 1.0923, which contains the large volume.
Sentiment:
This indicator shows that 65% retails traders are in long positions, which opposes our scenario. However, we need to state a presence of the changing of a balance. Hence, this indicator does not cancel our scenario, but we need to track its further changes.
https://d.radikal.ru/d25/2002/38/ea13735c4ec7.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 growth must be sharp and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
Around 90 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
