Strong Bullish Signal:
The price had corrected down, but after the formation of the new volume zone at the daily low, the price resumed rising. The move was sharp and confident. It shows the weakness of sellers.
Volume Zones:
It is necessary to point out the resistance level 1.1802. The price is trading near this mark at the moment.
Sentiment:
This indicator shows that 72% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b42/2010/7f/68209ced5b3f.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 80 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 had corrected down, but after the formation of the new volume zone at the daily low, the price resumed rising. The move was sharp and confident. It shows the weakness of sellers.
Volume Zones:
It is necessary to point out the resistance level 1.1802. The price is trading near this mark at the moment.
Sentiment:
This indicator shows that 72% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b42/2010/7f/68209ced5b3f.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 80 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
