Strong Bullish Signal:
The pair showed a sharp growth and broke out the previous level of resistance. The upward movement was supported by the huge volume and positive delta, which displays a power of buyers.
Volume Zones:
The volume was evenly spread throughout the chart, so that we can't point out any new volume level or zone.
Sentiment:
This indicator shows that 87% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a24/1912/72/2f64e6384016.png
Consider Long Positions:
Given all these factors, we should prefer a scenario of opening long positions. We may enter the market after a smooth downward correction of the price, in order to get a better entry point. The adjustment must be slight and on the small volume. A stop loss may be placed below the beginning of the bullish momentum yesterday.
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 broke out the previous level of resistance. The upward movement was supported by the huge volume and positive delta, which displays a power of buyers.
Volume Zones:
The volume was evenly spread throughout the chart, so that we can't point out any new volume level or zone.
Sentiment:
This indicator shows that 87% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a24/1912/72/2f64e6384016.png
Consider Long Positions:
Given all these factors, we should prefer a scenario of opening long positions. We may enter the market after a smooth downward correction of the price, in order to get a better entry point. The adjustment must be slight and on the small volume. A stop loss may be placed below the beginning of the bullish momentum yesterday.
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 -
