Strong Bullish Signal:
The price corrected downwards after the creation of the new resistance level. However, the fall was on the small volume, hence, we can't reckon that institutional players participated in this move. Besides it, the strong local uptrend is a good bullish signal for us.
Volume Zones:
We need to point out the new level of resistance 1.1668 - 1.1680. The price is trading near this mark at the moment.
Sentiment:
This indicator shows that 82% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b08/2007/24/99409d3c090c.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:
More than 100 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 corrected downwards after the creation of the new resistance level. However, the fall was on the small volume, hence, we can't reckon that institutional players participated in this move. Besides it, the strong local uptrend is a good bullish signal for us.
Volume Zones:
We need to point out the new level of resistance 1.1668 - 1.1680. The price is trading near this mark at the moment.
Sentiment:
This indicator shows that 82% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b08/2007/24/99409d3c090c.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:
More than 100 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
