Strong Bullish Signal:
Despite a confident downward correction, the price resumed growing and now is trading near the resistance level. The move was on the large volume, so that we may assume that the smart money pushed the price up. Moreover, the large positive delta supports this scenario.
Volume Zones:
We need to allocated an important level of resistance 109.18.
Sentiment:
This indicator shows that 76% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c12/1911/1b/3212f0e9c350.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:
More than 110 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
Despite a confident downward correction, the price resumed growing and now is trading near the resistance level. The move was on the large volume, so that we may assume that the smart money pushed the price up. Moreover, the large positive delta supports this scenario.
Volume Zones:
We need to allocated an important level of resistance 109.18.
Sentiment:
This indicator shows that 76% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c12/1911/1b/3212f0e9c350.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:
More than 110 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
