Strong Bullish Signal:
The pair showed a sharp growth and totally absorbed the previous keen growth, which shows that sellers are weak. Now the price is trading near this the resistance level/upper limit of the local consolidation.
Volume Zones:
We need to point out an important level of resistance/upper limit of the local range 1.2245 - 1.2255.
Sentiment:
This indicator shows that 78% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c28/2012/f8/15b6603341a1.png
Consider Long Positions:
Given all these factors, we may cogitate a scenario of the resistance level breakout, which will be a great bullish signal. The surge must be abrupt 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:
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 pair showed a sharp growth and totally absorbed the previous keen growth, which shows that sellers are weak. Now the price is trading near this the resistance level/upper limit of the local consolidation.
Volume Zones:
We need to point out an important level of resistance/upper limit of the local range 1.2245 - 1.2255.
Sentiment:
This indicator shows that 78% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c28/2012/f8/15b6603341a1.png
Consider Long Positions:
Given all these factors, we may cogitate a scenario of the resistance level breakout, which will be a great bullish signal. The surge must be abrupt 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:
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 -
