Strong Bullish Signal:
The pair showed an abrupt growth supported by the huge volume, which displays the power of buyers. Moreover, the large positive delta only increases this bullish signal.
Volume Zones:
We need to allocate the new level of support 1.3036, which contains the large volume.
Sentiment:
This indicator shows that 90% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d25/1912/13/cc8487b3f146.png
Consider Long Positions:
Considering all these factors, we may give preference to long positions. However, we may enter the market after a smooth and slight downward correciton, in order to get a better entry point. A stop loss should be placed below the support level.
Profit Potential:
More than 120 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 an abrupt growth supported by the huge volume, which displays the power of buyers. Moreover, the large positive delta only increases this bullish signal.
Volume Zones:
We need to allocate the new level of support 1.3036, which contains the large volume.
Sentiment:
This indicator shows that 90% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d25/1912/13/cc8487b3f146.png
Consider Long Positions:
Considering all these factors, we may give preference to long positions. However, we may enter the market after a smooth and slight downward correciton, in order to get a better entry point. A stop loss should be placed below the support level.
Profit Potential:
More than 120 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
