Strong Bullish Signal:
The pair showed a sharp growth and tested the level of resistance. The price did not break it out, but is still trading near it. Besides it, we need to point out the presence of the local uptrend.
Volume Zones:
It is necessary to allocate the level of resistance 1926.30 - 1929.00, which contains the large volume.
Consider Long Positions:
Given all these factors, we may reckon a scenario of the breakout of the resistance, which will consent us to open long positions. The rise must be keen 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 250 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The pair showed a sharp growth and tested the level of resistance. The price did not break it out, but is still trading near it. Besides it, we need to point out the presence of the local uptrend.
Volume Zones:
It is necessary to allocate the level of resistance 1926.30 - 1929.00, which contains the large volume.
Consider Long Positions:
Given all these factors, we may reckon a scenario of the breakout of the resistance, which will consent us to open long positions. The rise must be keen 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 250 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
