Strong Bullish Signal:
The pair corrected downwards after the formation of the new level of resistance. However, the price has alrady resumed rising and now is trading near this mark. Moreover, we should take into account the recent sharp growth.
Volume Zones:
We need to allocated an important level of resistance 1343.00, which contains the large volume.
Sentiment:
This indicator shows that 83% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b14/1906/04/a986a92174a8.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 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 pair corrected downwards after the formation of the new level of resistance. However, the price has alrady resumed rising and now is trading near this mark. Moreover, we should take into account the recent sharp growth.
Volume Zones:
We need to allocated an important level of resistance 1343.00, which contains the large volume.
Sentiment:
This indicator shows that 83% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b14/1906/04/a986a92174a8.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 150 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
