Strong Bullish Signal:
The pair showed a sharp growth and is testing the level of resistance at the moment. The move was on the increased volume and large positive delta, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge.
Volume Zones:
We need to point out an important level of resistance/local maximum 1.3743.
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://b.radikal.ru/b19/2101/da/868c785062a8.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance level, which will entitle us to open long positions. The rise must be keen 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 150 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 is testing the level of resistance at the moment. The move was on the increased volume and large positive delta, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge.
Volume Zones:
We need to point out an important level of resistance/local maximum 1.3743.
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://b.radikal.ru/b19/2101/da/868c785062a8.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance level, which will entitle us to open long positions. The rise must be keen 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 150 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
