Strong Bullish Signal: The pair tested the support level and then demonstrated a sharp growth. The move was on the large positive delta, which means that buyers are dominating the market. Volume Zones: It is necessary to point out the crucial support level 1.1237 - 1.1245. We should allocated that the large volume is concentrated inside it, which implies that the smart money has positions in this range. Sentiment: This indicator shows that 67% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd"). https://imagizer.imageshack.com/img923/1425/Cl6Scw.png Consider Long Positions: Given all these factors, we should consider exceptionally long positions until the breakdown of this level. We may enter the market after a smooth downward correction of the price, in order to get a more profitable 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 -