Mixed Signals:
The price demonstrated a huge rise supported by large institutional volume and tested the resistance level, however, the pair could not break it out and then showed a sharp downward correction. Both moves were supported by the large volume, which perplexes us in recognizing of plans of big players. The large positive delta, though, gives a little advantage to buyers.
Volume Zones:
We need to allocated 2 strong volume levels. They are the support 1.1068 and the resistance 1.1154. Both contains the large volume.
Sentiment:
This indicator shows that 60% retails traders are in long positions, which is a good bullish signal for us (trading against the "crowd").
https://d.radikal.ru/d13/1908/91/3c14d7b12492.png
Consider New Positions:
Given all these factors, we can consider new positions only after the breakout of one of these levels and exit of the price from the local consolidation. The breakout movement must be abrupt and supported by the large volume, which will insure us against a fake breakout.
While the pair is locked within this range, we'd better stay out of the market.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The price demonstrated a huge rise supported by large institutional volume and tested the resistance level, however, the pair could not break it out and then showed a sharp downward correction. Both moves were supported by the large volume, which perplexes us in recognizing of plans of big players. The large positive delta, though, gives a little advantage to buyers.
Volume Zones:
We need to allocated 2 strong volume levels. They are the support 1.1068 and the resistance 1.1154. Both contains the large volume.
Sentiment:
This indicator shows that 60% retails traders are in long positions, which is a good bullish signal for us (trading against the "crowd").
https://d.radikal.ru/d13/1908/91/3c14d7b12492.png
Consider New Positions:
Given all these factors, we can consider new positions only after the breakout of one of these levels and exit of the price from the local consolidation. The breakout movement must be abrupt and supported by the large volume, which will insure us against a fake breakout.
While the pair is locked within this range, we'd better stay out of the market.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
