Strong Bullish Signal:
The price showed a keen growth and broke out the previous level of resistance. The move was on the increased volume and large positive delta, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge.
Volume Zones:
It is necessary to point out the new level of support 1.1790 - 1.1796. This level contains the large volume.
Sentiment:
This indicator shows that 77% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d30/2010/d2/256cbaa21bd3.png
Consider Long Positions:
Given all these factors, we should give preference to long positions. We may enter the market after a smooth downward correction of the price, in order to get a better entry point. A stop loss may be placed below the support level.
Profit Potential:
Around 80 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 showed a keen growth and broke out the previous level of resistance. The move was on the increased volume and large positive delta, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge.
Volume Zones:
It is necessary to point out the new level of support 1.1790 - 1.1796. This level contains the large volume.
Sentiment:
This indicator shows that 77% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d30/2010/d2/256cbaa21bd3.png
Consider Long Positions:
Given all these factors, we should give preference to long positions. We may enter the market after a smooth downward correction of the price, in order to get a better entry point. A stop loss may be placed below the support level.
Profit Potential:
Around 80 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
