Strong Bullish Signal:
The price continued rising, hence, we may state that the local uptrend is going on. Besides it, the price is trading above the strong volume support level.
Volume Zones:
It is necessary to point out an important level of resistance 104.65, which contains the large volume.
Sentiment:
This indicator shows that 85% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d21/2102/88/7ed21204f3ce.png
Consider Long Positions:
Given all these factors, we may regard long positions after a smooth downward correction in order to get a better entry point. A stop loss may be placed below the support level.
Profit Potential:
More than 60 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 continued rising, hence, we may state that the local uptrend is going on. Besides it, the price is trading above the strong volume support level.
Volume Zones:
It is necessary to point out an important level of resistance 104.65, which contains the large volume.
Sentiment:
This indicator shows that 85% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d21/2102/88/7ed21204f3ce.png
Consider Long Positions:
Given all these factors, we may regard long positions after a smooth downward correction in order to get a better entry point. A stop loss may be placed below the support level.
Profit Potential:
More than 60 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
