Strong Bullish Signal:
The pair showed a sharp growth and broke out the previous level of resistance. The movement was supported by the large volume and positive delta, which is a great indicator of bulls strength.
Volume Zones:
We need to allocate the new support level 1.1777 - 1.1790, which contains the large volume.
Sentiment:
This indicator shows that 82% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c19/2007/cf/470fe56602a5.png
Consider Long Positions:
Given all these factors, we may reckon long positions after a smooth downward correction, in order to get a better entry point. A stop loss may be placed below the new support level.
Profit Potential:
More than 110 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 showed a sharp growth and broke out the previous level of resistance. The movement was supported by the large volume and positive delta, which is a great indicator of bulls strength.
Volume Zones:
We need to allocate the new support level 1.1777 - 1.1790, which contains the large volume.
Sentiment:
This indicator shows that 82% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c19/2007/cf/470fe56602a5.png
Consider Long Positions:
Given all these factors, we may reckon long positions after a smooth downward correction, in order to get a better entry point. A stop loss may be placed below the new support level.
Profit Potential:
More than 110 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
