Strong Bullish Signal: The pair continued rising, moreover, the surge was sharp and confident. Besides it, there is a strong uptrend. Volume Zones: It is necessary to point out the new volume support level 110.00 - 110.04. Sentiment: This indicator shows that 84% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd"). https://a.radikal.ru/a29/2108/5a/b2ef43bf958e.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 new support level. 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 -