Strong Bullish Signal:
The price resumed rising after a sharp correction and totally absorbed it, which shows a weakness of sellers. Moreover, the upward move was supported by the increased volume and large positive delta, which implies that buyers are dominating the market now.
Volume Zones:
We need to point out an important level of resistance 1.1784 - 1.1792, which has been already tested and contains the large volume.
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://c.radikal.ru/c16/2109/3b/a067215bb1c5.png
Consider Long Positions:
Given all these factors, we may open long positions after a smooth downward correction of the price, in order to get a better entry point. A stop loss may be placed below the support level.
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 price resumed rising after a sharp correction and totally absorbed it, which shows a weakness of sellers. Moreover, the upward move was supported by the increased volume and large positive delta, which implies that buyers are dominating the market now.
Volume Zones:
We need to point out an important level of resistance 1.1784 - 1.1792, which has been already tested and contains the large volume.
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://c.radikal.ru/c16/2109/3b/a067215bb1c5.png
Consider Long Positions:
Given all these factors, we may open long positions after a smooth downward correction of the price, in order to get a better entry point. A stop loss may be placed below the support level.
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 -
