Strong Bullish Signal:
The price demonstrated a sharp growth supported by the large volume and positive delta. It means that the smart money pushed the price upwards. Moreover, the price broke out the previous resistance.
Volume Zones:
It is necessary to allocate an important level of support 17.73, where the large volume is concentrated.
Consider Long Positions:
Given all these factors, we should give preference to long positions. We may enter the market after a smooth downward correction of the price, in order to get a more profitable entry point to the market. A stop loss may be placed below the level of support.
Profit Potential:
Around 70 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 demonstrated a sharp growth supported by the large volume and positive delta. It means that the smart money pushed the price upwards. Moreover, the price broke out the previous resistance.
Volume Zones:
It is necessary to allocate an important level of support 17.73, where the large volume is concentrated.
Consider Long Positions:
Given all these factors, we should give preference to long positions. We may enter the market after a smooth downward correction of the price, in order to get a more profitable entry point to the market. A stop loss may be placed below the level of support.
Profit Potential:
Around 70 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
