Bullish Signal:
The price resumed rising and is testing the level of resistance at the moment. The move was on the increased volume + positive delta, so that we may assume that the smart money pushed the price up. It increases the possibility of the further growth.
Volume Zones:
Our previous level of resistance remains actual, it's 1.1342, which contains increased volume.
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/b05/1906/a2/639150545cb3.png
Consider Long Positions:
Given all these factors, we may reckon a scenario of the breakout of the resistance, which will consent us to open long positions. The rise must be sharp 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 100 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 resumed rising and is testing the level of resistance at the moment. The move was on the increased volume + positive delta, so that we may assume that the smart money pushed the price up. It increases the possibility of the further growth.
Volume Zones:
Our previous level of resistance remains actual, it's 1.1342, which contains increased volume.
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/b05/1906/a2/639150545cb3.png
Consider Long Positions:
Given all these factors, we may reckon a scenario of the breakout of the resistance, which will consent us to open long positions. The rise must be sharp 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 100 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
