Strong Bullish Signal:
The price tested the support level, but could not break it down and then resumed rising. As a consequence, the pair absorbed the recent fall which shows a weakness of sellers. Moreover, there is a significant local uptrend.
Volume Zones:
We need to point out an important level of support 1.2171. This level has already been tested twice.
Sentiment:
This indicator shows that 80% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a05/2105/85/d05d3b8c9372.png
Consider Long Positions:
Given all these factors, we may open long positions after a smooth downward correction, in order to get a better entry point. A stop loss may be placed below the support level.
Profit Potential:
More than 100 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The price tested the support level, but could not break it down and then resumed rising. As a consequence, the pair absorbed the recent fall which shows a weakness of sellers. Moreover, there is a significant local uptrend.
Volume Zones:
We need to point out an important level of support 1.2171. This level has already been tested twice.
Sentiment:
This indicator shows that 80% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a05/2105/85/d05d3b8c9372.png
Consider Long Positions:
Given all these factors, we may open long positions after a smooth downward correction, in order to get a better entry point. A stop loss may be placed below the support level.
Profit Potential:
More than 100 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
