Strong Bullish Signal: The price demonstrated an abrupt growth and broke out the previous resistance level. The move was supported by the large volume and positive delta, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge. Volume Zones: We need to point out an important level of resistance 1829.40, which contains the large volume. The price is testing this mark at the moment. Sentiment: This indicator shows that 52% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd"). https://b.radikal.ru/b12/2107/df/97bca19122c6.png Consider Long Positions: Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a great bullish signal. The growth must be sharp 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 250 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
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