Strong Bullish Signal:
The price demonstrated an abrupt growth and broke out the previous resistance level, which is a good bullish signal. Moreover, the breakout movement was supported by the large volume and positive delta, which only enhances its importance.
Volume Zones:
The volume was evenly spread throughout the chart, so that we can't allocate any new volume levels or zones.
Sentiment:
This indicator shows that 86% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c06/1910/9a/31a631a3e60b.png
Consider Long Positions:
Considering all these factors, we should give preference to long positions. We may enter the market after a smooth downward correction of the price, in order to get a better entry point. A stop loss should be placed below the beginning of the breakout movement.
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 demonstrated an abrupt growth and broke out the previous resistance level, which is a good bullish signal. Moreover, the breakout movement was supported by the large volume and positive delta, which only enhances its importance.
Volume Zones:
The volume was evenly spread throughout the chart, so that we can't allocate any new volume levels or zones.
Sentiment:
This indicator shows that 86% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c06/1910/9a/31a631a3e60b.png
Consider Long Positions:
Considering all these factors, we should give preference to long positions. We may enter the market after a smooth downward correction of the price, in order to get a better entry point. A stop loss should be placed below the beginning of the breakout movement.
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 -
