Strong Bullish Signal:
The pair tested the support level and then demonstrated a sharp growth. The move was on the large positive delta, which means that buyers are dominating the market.
Volume Zones:
It is necessary to point out the crucial support level 1.1237 - 1.1245. We should allocated that the large volume is concentrated inside it, which implies that the smart money has positions in this range.
Sentiment:
This indicator shows that 67% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img923/1425/Cl6Scw.png
Consider Long Positions:
Given all these factors, we should consider exceptionally long positions until the breakdown of this level. We may enter the market 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 support level.
Profit Potential:
More than 100 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The pair tested the support level and then demonstrated a sharp growth. The move was on the large positive delta, which means that buyers are dominating the market.
Volume Zones:
It is necessary to point out the crucial support level 1.1237 - 1.1245. We should allocated that the large volume is concentrated inside it, which implies that the smart money has positions in this range.
Sentiment:
This indicator shows that 67% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img923/1425/Cl6Scw.png
Consider Long Positions:
Given all these factors, we should consider exceptionally long positions until the breakdown of this level. We may enter the market 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 support level.
Profit Potential:
More than 100 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -