Strong Bullish Signal:
The price resumed rising after the appearance of the large volume. Moreover, the previous sharp downward correction has been swallowed, which shows a weakness of sellers.
Volume Zones:
We need to highlight an important level of resistance 1799.00, which contains the large volume.
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will allow us to contemplate purchases. The rise must be sharp and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
Around 300 points.
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 after the appearance of the large volume. Moreover, the previous sharp downward correction has been swallowed, which shows a weakness of sellers.
Volume Zones:
We need to highlight an important level of resistance 1799.00, which contains the large volume.
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will allow us to contemplate purchases. The rise must be sharp and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
Around 300 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
