Strong Bullish Signal:
The price corrected downwards after the creation of the new resistance level. Nevertheless, there is a strong uptrend with this instrument, hence, we still should give a slight advantage to long positions.
Volume Zones:
We need to highlight the new volume level of resistance 1.3144 - 1.3165. However, the price is still trading near this mark.
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/b28/2008/14/0223918945d9.png
Consider Long Positions:
Given all these factors, we may reckon a breakout of the resistance, which will be a great bullish signal. The rise must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 150 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 corrected downwards after the creation of the new resistance level. Nevertheless, there is a strong uptrend with this instrument, hence, we still should give a slight advantage to long positions.
Volume Zones:
We need to highlight the new volume level of resistance 1.3144 - 1.3165. However, the price is still trading near this mark.
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/b28/2008/14/0223918945d9.png
Consider Long Positions:
Given all these factors, we may reckon a breakout of the resistance, which will be a great bullish signal. The rise must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 150 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
