Strong Bullish Signal:
The price demonstrated an abrupt and keen growth supported by the large volume. The pair broke out the previous resistance level/local maximum, so now there are no obstacles for a further rise of the price. Moreover, the large positive delta implies that there is a huge long positions imbalance.
Volume Zones:
We need to point out the new support level 1.2009 - 1.2019, which contains the large volume.
Sentiment:
This indicator shows that 86% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c16/2012/e7/1e3bf20f70e2.png
Consider Long Positions:
Given all these factors, we should prefer a scenario of opening long positions. We may enter the market after a smooth downward correction, in order to get a better entry point. A stop loss should be placed below the new support level with a little margin.
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 demonstrated an abrupt and keen growth supported by the large volume. The pair broke out the previous resistance level/local maximum, so now there are no obstacles for a further rise of the price. Moreover, the large positive delta implies that there is a huge long positions imbalance.
Volume Zones:
We need to point out the new support level 1.2009 - 1.2019, which contains the large volume.
Sentiment:
This indicator shows that 86% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c16/2012/e7/1e3bf20f70e2.png
Consider Long Positions:
Given all these factors, we should prefer a scenario of opening long positions. We may enter the market after a smooth downward correction, in order to get a better entry point. A stop loss should be placed below the new support level with a little margin.
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 -
