Strong Bullish Signal:
The Pound demonstrated an abrupt and sharp growth supported by the large volume and positive delta. Moreover, the pair has already broke out the previous resistance level. All these factors show the strength of buyers at the moment.
Volume Zones:
The volume was evenly spread throughout the chart, hence, we can't allocate any new levels or zones.
Sentiment:
This indicator shows that 75% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d32/2006/b0/34d77cb9ffc4.png
Consider Long Positions:
Given all these factors, we should prefer a scenario of opening long positions. We may enter the market after a smooth downward correction, in order to get a better entry point. A stop loss should be placed below a sharp bullish momentum.
Profit Potential:
More than 130 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The Pound demonstrated an abrupt and sharp growth supported by the large volume and positive delta. Moreover, the pair has already broke out the previous resistance level. All these factors show the strength of buyers at the moment.
Volume Zones:
The volume was evenly spread throughout the chart, hence, we can't allocate any new levels or zones.
Sentiment:
This indicator shows that 75% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d32/2006/b0/34d77cb9ffc4.png
Consider Long Positions:
Given all these factors, we should prefer a scenario of opening long positions. We may enter the market after a smooth downward correction, in order to get a better entry point. A stop loss should be placed below a sharp bullish momentum.
Profit Potential:
More than 130 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
