Strong Bullish Signal:
The price corrected down, but the move was stopped after the appearance of the large volume at the bottom of the drop. Moreover, we have to point out a recent abrupt growth of the price.
Volume Zones:
It is necessary to point out an important level of support 1.1855 - 1.1862, which contains the large volume.
Consider Long Positions:
Given all these factors, we may still consider long positions after a resumption of the growth supported by the large volume, which will be a more accurate signal of a continuation of the surge. A stop loss may be placed below the new support level.
Profit Potential:
Around 80-85 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 corrected down, but the move was stopped after the appearance of the large volume at the bottom of the drop. Moreover, we have to point out a recent abrupt growth of the price.
Volume Zones:
It is necessary to point out an important level of support 1.1855 - 1.1862, which contains the large volume.
Consider Long Positions:
Given all these factors, we may still consider long positions after a resumption of the growth supported by the large volume, which will be a more accurate signal of a continuation of the surge. A stop loss may be placed below the new support level.
Profit Potential:
Around 80-85 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
