Strong Bullish Signal:
The price demonstrated a sharp growth supported by the large volume, which is a good indicator of bulls strength.
Volume Zones:
We need to allocated an important level of support 1493.20, which contains the large volume.
Sentiment:
This indicator shows that 68% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b40/1908/ce/b3c0e3e18375.png
Consider Long Positions:
Given all these factors, we should prefer a scenario of opening long positions. We may enter the market after a resumption of the keen rise of the price on the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed below the level of support.
Profit Potential:
More than 200 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 demonstrated a sharp growth supported by the large volume, which is a good indicator of bulls strength.
Volume Zones:
We need to allocated an important level of support 1493.20, which contains the large volume.
Sentiment:
This indicator shows that 68% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b40/1908/ce/b3c0e3e18375.png
Consider Long Positions:
Given all these factors, we should prefer a scenario of opening long positions. We may enter the market after a resumption of the keen rise of the price on the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed below the level of support.
Profit Potential:
More than 200 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
