Strong Bullish Signal:
The price resumed rising after a downward correction and now is testing the resistance level. Moreover, the surge was supported by the large volume and positive delta, which implies that the smart money pushed the price upwards.
Volume Zones:
We need to allocated an important level of resistance 1.2688.
Sentiment:
This indicator shows that 71% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a05/1910/45/833c6f2e0c65.png
Consider Long Positions:
Given all these factors, we may consider a scenario of the breakout of the resistance, which will be a great bullish signal. The rise must be keen and supported by the large volume, which will be a more reliable 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 price resumed rising after a downward correction and now is testing the resistance level. Moreover, the surge was supported by the large volume and positive delta, which implies that the smart money pushed the price upwards.
Volume Zones:
We need to allocated an important level of resistance 1.2688.
Sentiment:
This indicator shows that 71% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a05/1910/45/833c6f2e0c65.png
Consider Long Positions:
Given all these factors, we may consider a scenario of the breakout of the resistance, which will be a great bullish signal. The rise must be keen and supported by the large volume, which will be a more reliable 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 -
