Strong Bullish Signal:
The price resumed rising and totally swallowed the previous downward correction, which shows a weakness of sellers. Moreover, the move was supported by the large volume, which means that the smart money pushed the price up.
Volume Zones:
We need to point out an important level of resistance 24.68 - 24.79, which contains the large volume.
Sentiment:
This indicator shows that 73% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b12/2111/9a/64ebcbe4cc05.png
Consider Long Positions:
Given all these factors, we may regard a resistance level breakout, which will be a great bullish signal. The rise 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 150 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 resumed rising and totally swallowed the previous downward correction, which shows a weakness of sellers. Moreover, the move was supported by the large volume, which means that the smart money pushed the price up.
Volume Zones:
We need to point out an important level of resistance 24.68 - 24.79, which contains the large volume.
Sentiment:
This indicator shows that 73% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b12/2111/9a/64ebcbe4cc05.png
Consider Long Positions:
Given all these factors, we may regard a resistance level breakout, which will be a great bullish signal. The rise 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 150 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
