Strong Bullish Signal:
The price demonstrated an abrupt growth supported by the large volume, which shows that the smart money pushed the price up.
Volume Zones:
It is necessary to point out the resistance level 1.1900. The price is trading near this mark.
Sentiment:
This indicator shows that 68% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a32/2104/31/1c02e64f8c05.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will consent us to open long positions. The rise must be keen 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:
Around 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 demonstrated an abrupt growth supported by the large volume, which shows that the smart money pushed the price up.
Volume Zones:
It is necessary to point out the resistance level 1.1900. The price is trading near this mark.
Sentiment:
This indicator shows that 68% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a32/2104/31/1c02e64f8c05.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will consent us to open long positions. The rise must be keen 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:
Around 80 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
