Strong Bullish Signal:
The price restarted growing and broke out the previous resistance level, which is a good bullish signal. Moreover, the surge was supported by the large volume and positive delta, which demonstrate that buyers are dominating the market now.
Volume Zones:
It is necessary to allocate the new volume level of support 1.1864. The price resumed rising exactly from this point.
Sentiment:
This indicator shows that 74% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a10/2104/47/108dfcc86a8f.png
Consider Long Positions:
Given all these factors, we should prefer long positions. We may enter the market after a smooth downward correction, in order to get a better entry point. A stop loss may be placed below the new support level.
Profit Potential:
Around 100 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 restarted growing and broke out the previous resistance level, which is a good bullish signal. Moreover, the surge was supported by the large volume and positive delta, which demonstrate that buyers are dominating the market now.
Volume Zones:
It is necessary to allocate the new volume level of support 1.1864. The price resumed rising exactly from this point.
Sentiment:
This indicator shows that 74% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a10/2104/47/108dfcc86a8f.png
Consider Long Positions:
Given all these factors, we should prefer long positions. We may enter the market after a smooth downward correction, in order to get a better entry point. A stop loss may be placed below the new support level.
Profit Potential:
Around 100 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
