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Strong Bullish Signal:
The price corrected downwards after the creation of the new resistance level . However, the fall was on the small volume , hence, we can't reckon that institutional players participated in this move. Besides it, the strong local uptrend is a good bullish signal for us.
Volume Zones:
We need to point out the new level of resistance 1.1668 - 1.1680. The price is trading near this mark at the moment.
Sentiment:
This indicator shows that 82% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b08/2007/24/99409d3...
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a great bullish signal. The growth must be sharp and supported by the large volume , which will be a more reliable signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 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 corrected downwards after the creation of the new resistance level . However, the fall was on the small volume , hence, we can't reckon that institutional players participated in this move. Besides it, the strong local uptrend is a good bullish signal for us.
Volume Zones:
We need to point out the new level of resistance 1.1668 - 1.1680. The price is trading near this mark at the moment.
Sentiment:
This indicator shows that 82% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b08/2007/24/99409d3...
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a great bullish signal. The growth must be sharp and supported by the large volume , which will be a more reliable signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 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 Professional Traders choice: https://varianse.com
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