Strong Bullish Signal:
The pair demonstrated a keen growth and is currently testing the level of resistance. The move was on the large volume, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge. Moreover, the previous downward correction has been totally devoured.
Volume Zones:
It is necessary to point out the resistance level/local maximum 1.3696.
Sentiment:
This indicator shows that 89% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a33/2101/a8/3c9709b40138.png
Consider Long Positions:
Given all these factors, we may ponder a scenario of the resistance level/local maximum breakout, which will allow us to enter the market and open purchases. The rise must be abrupt 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 150 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 demonstrated a keen growth and is currently testing the level of resistance. The move was on the large volume, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge. Moreover, the previous downward correction has been totally devoured.
Volume Zones:
It is necessary to point out the resistance level/local maximum 1.3696.
Sentiment:
This indicator shows that 89% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a33/2101/a8/3c9709b40138.png
Consider Long Positions:
Given all these factors, we may ponder a scenario of the resistance level/local maximum breakout, which will allow us to enter the market and open purchases. The rise must be abrupt 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 150 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
