Strong Bullish Signal:
The pair showed a sharp growth and tested the level of resistance. The price did not break it out, but is still trading near it, which shows the weakness of sellers now. Moreover, there is a strong uptrend, which is also a bullish signal.
Volume Zones:
We need to point out a new volume level of resistance 1.1896 - 1.1900. The price is trading near this mark.
Sentiment:
This indicator shows that 70% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b27/2109/28/b551d2c91ca9.png
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:
Around 90 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The pair showed a sharp growth and tested the level of resistance. The price did not break it out, but is still trading near it, which shows the weakness of sellers now. Moreover, there is a strong uptrend, which is also a bullish signal.
Volume Zones:
We need to point out a new volume level of resistance 1.1896 - 1.1900. The price is trading near this mark.
Sentiment:
This indicator shows that 70% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b27/2109/28/b551d2c91ca9.png
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:
Around 90 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
