Strong Bullish Signal:
The price resumed rising yesterday after a creation of the support level. The surge was confident and abrupt.
Volume Zones:
We need to allocated an important level of support 1.0950 - 1.0972, where the large volume is concentrated.
Sentiment:
This indicator shows that 56% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d13/2004/b0/a81082ca84ab.png
Consider Long Positions:
Given all these factors, we may regard a scenario of opening long positions, but only after a smooth downward correction of the price, in order to get an acceptable entry point. A stop loss should be placed below the yesterday's minimum.
Profit Potential:
Around 170-180 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 resumed rising yesterday after a creation of the support level. The surge was confident and abrupt.
Volume Zones:
We need to allocated an important level of support 1.0950 - 1.0972, where the large volume is concentrated.
Sentiment:
This indicator shows that 56% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d13/2004/b0/a81082ca84ab.png
Consider Long Positions:
Given all these factors, we may regard a scenario of opening long positions, but only after a smooth downward correction of the price, in order to get an acceptable entry point. A stop loss should be placed below the yesterday's minimum.
Profit Potential:
Around 170-180 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
