Strong Bullish Signal:
The pair showed a sharp growth and broke out the previous level of resistance. The move was on the large positive delta, hence, buyers are dominating the market now.
Volume Zones:
It is necessary to point out the new resistance level 1.1779 - 1.1786. The price is testing this mark at the moment.
Sentiment:
This indicator shows that 71% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c01/2010/fe/faaff31e66ed.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 80 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 showed a sharp growth and broke out the previous level of resistance. The move was on the large positive delta, hence, buyers are dominating the market now.
Volume Zones:
It is necessary to point out the new resistance level 1.1779 - 1.1786. The price is testing this mark at the moment.
Sentiment:
This indicator shows that 71% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c01/2010/fe/faaff31e66ed.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 80 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -