Strong Bullish Signal:
The price started correcting downwards, but after the creation of the new support, it restarted growing. Moreover, the upward move was keen and supported by the huge volume, which denotes that exactly the smart money pushed the pair up.
Volume Zones:
It is necessary to point out the new level of support 107.70, which stopped the correction and contains the large volume.
Sentiment:
This indicator shows that 95% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c11/1909/95/20e904cbf70f.png
Consider Long Positions:
Given all these factors, we should give preference to long positions. We may enter the market after a smooth downward correction, in order to obtain a better entry point. A stop loss should be placed below the local minimum (pin 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 started correcting downwards, but after the creation of the new support, it restarted growing. Moreover, the upward move was keen and supported by the huge volume, which denotes that exactly the smart money pushed the pair up.
Volume Zones:
It is necessary to point out the new level of support 107.70, which stopped the correction and contains the large volume.
Sentiment:
This indicator shows that 95% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c11/1909/95/20e904cbf70f.png
Consider Long Positions:
Given all these factors, we should give preference to long positions. We may enter the market after a smooth downward correction, in order to obtain a better entry point. A stop loss should be placed below the local minimum (pin 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 -
