Strong Bullish Signal:
The pair corrected down after the creation of the new resistance level. However, the move was smooth and the price is still trading nigh this mark. Moreover, there is a strong uptrend, which is a great bullish signal.
Volume Zones:
It is necessary to point out the new resistance level 1.3822 - 1.3830, which contains the large volume.
Sentiment:
This indicator shows that 80% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a28/2110/aa/6768a2e67366.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the resistance level breakout, 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:
Around 130 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The pair corrected down after the creation of the new resistance level. However, the move was smooth and the price is still trading nigh this mark. Moreover, there is a strong uptrend, which is a great bullish signal.
Volume Zones:
It is necessary to point out the new resistance level 1.3822 - 1.3830, which contains the large volume.
Sentiment:
This indicator shows that 80% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a28/2110/aa/6768a2e67366.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the resistance level breakout, 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:
Around 130 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
