Good Bullish Signal:
The pair showed a sharp and confident surge and now is testing the resistance level, but the move was on the average volume, so that we can't consider this rise as strong signal and must be more careful. However, the increased positive delta implies that buyers are still dominating the market.
Volume Zones:
It is necessary to allocated an important level of resistance 1343.00, which contains the increased volume.
Sentiment:
This indicator shows that 80% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b32/1906/28/84f911f67dfc.png
Consider Long Positions:
Given all these factors, we might consider a scenario of the breakout of the resistance, which will allow us to open long positions. The rise must be sharp 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 and confident surge and now is testing the resistance level, but the move was on the average volume, so that we can't consider this rise as strong signal and must be more careful. However, the increased positive delta implies that buyers are still dominating the market.
Volume Zones:
It is necessary to allocated an important level of resistance 1343.00, which contains the increased volume.
Sentiment:
This indicator shows that 80% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b32/1906/28/84f911f67dfc.png
Consider Long Positions:
Given all these factors, we might consider a scenario of the breakout of the resistance, which will allow us to open long positions. The rise must be sharp 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 -
