Strong Bullish Signal:
The pair showed a sharp growth and tested the level of resistance. The price did not break it out, but is still trading near it. 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.
Volume Zones:
It is necessary to point out the new level of resistance/local maximum 1.3607. The price is currently trading near this mark.
Sentiment:
This indicator shows that 75% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a25/2012/cb/f3cc56c0c4a8.png
Consider Long Positions:
Given all these factors, we may ponder a scenario of the resistance level breakout, which will consent us to open purchases. The growth must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 150 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 tested the level of resistance. The price did not break it out, but is still trading near it. 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.
Volume Zones:
It is necessary to point out the new level of resistance/local maximum 1.3607. The price is currently trading near this mark.
Sentiment:
This indicator shows that 75% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a25/2012/cb/f3cc56c0c4a8.png
Consider Long Positions:
Given all these factors, we may ponder a scenario of the resistance level breakout, which will consent us to open purchases. The growth must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 150 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
