Strong Bullish Signal:
The pair resumed rising and and now is trading nigh the local maximum. We have to point out a strong local uptrend with this instrument, which is an excellent bullish signal.
Volume Zones:
We need to highlight an important level of resistance/local maximum 112.04.
Sentiment:
This indicator shows that 83% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b41/2110/d1/b9ef04bf66db.png
Consider Long Positions:
Given all these factors, we may ponder a breakout of the resistance level, 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 120 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 resumed rising and and now is trading nigh the local maximum. We have to point out a strong local uptrend with this instrument, which is an excellent bullish signal.
Volume Zones:
We need to highlight an important level of resistance/local maximum 112.04.
Sentiment:
This indicator shows that 83% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b41/2110/d1/b9ef04bf66db.png
Consider Long Positions:
Given all these factors, we may ponder a breakout of the resistance level, 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 120 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
