Strong Bullish Signal:
The price resumed rising and now is trading near the resistance level. The rise was supported by increased volume and positive delta, which means that buyers regain the lead. Moreover, the strong local uptrend, we should give preference to long positions.
Volume Zones:
We need to allocate an important level of resistance/local maximum 1.1887.
Sentiment:
This indicator shows that 78% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c14/2008/b2/513c28b0f0dd.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 surge must be keen 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 120 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The price resumed rising and now is trading near the resistance level. The rise was supported by increased volume and positive delta, which means that buyers regain the lead. Moreover, the strong local uptrend, we should give preference to long positions.
Volume Zones:
We need to allocate an important level of resistance/local maximum 1.1887.
Sentiment:
This indicator shows that 78% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c14/2008/b2/513c28b0f0dd.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 surge must be keen 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 120 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
