Strong Bullish Signal:
The price resumed rising after a sharp recent fall. The surge totally absorbed the downward correction, which means that seller don't have enough power to maintain the fall. Moreover, the move was supported by the large volume, which means that exactly the smart money pushed the pair up.
Volume Zones:
We need to point out an important level of resistance/local maximum 1793.50 - 1796.50.
Sentiment:
This indicator shows that 57% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d33/2105/33/7d4ad84769a7.png
Consider Long Positions:
Given all these factors, we may cogitate a scenario of the breakout of the resistance, which will allow us to open long positions. The surge must be keen and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 400 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The price resumed rising after a sharp recent fall. The surge totally absorbed the downward correction, which means that seller don't have enough power to maintain the fall. Moreover, the move was supported by the large volume, which means that exactly the smart money pushed the pair up.
Volume Zones:
We need to point out an important level of resistance/local maximum 1793.50 - 1796.50.
Sentiment:
This indicator shows that 57% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d33/2105/33/7d4ad84769a7.png
Consider Long Positions:
Given all these factors, we may cogitate a scenario of the breakout of the resistance, which will allow us to open long positions. The surge must be keen and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 400 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
