Strong Bullish Signal:
The pair showed a sharp growth and now is testing the level of resistance. The movement was sharp and supported by the large volume, which means that the smart money pushed the price up. Increased positive delta also confirms this statement.
Volume Zones:
It is necessary to point out the level of resistance/local maximum 1.1175. The price is currently trading near this mark.
Sentiment:
This indicator shows that 87% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c12/1911/45/7685094477b8.png
Consider Long Positions:
Considering all these factors, we may reckon a scenario of the breakout of the resistance, that will consent us to open long positions. 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 located below the breakout volume bar.
Profit Potential:
More than 110 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 now is testing the level of resistance. The movement was sharp and supported by the large volume, which means that the smart money pushed the price up. Increased positive delta also confirms this statement.
Volume Zones:
It is necessary to point out the level of resistance/local maximum 1.1175. The price is currently trading near this mark.
Sentiment:
This indicator shows that 87% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c12/1911/45/7685094477b8.png
Consider Long Positions:
Considering all these factors, we may reckon a scenario of the breakout of the resistance, that will consent us to open long positions. 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 located below the breakout volume bar.
Profit Potential:
More than 110 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
