Strong Bullish Signal:
The pair showed a sharp growth and broke out the previous resistance. The move was on the large volume, so that we may assume that the smart money pushed the price up. Moreover, the large positive delta means that buyers were prevailing the market.
Volume Zones:
We need to point out the new level of support 65.35, which contains the large volume. So institutional players opened their positions in this area.
Sentiment:
This indicator shows that 76% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img923/5760/Tm4BHR.png
Consider Long Positions:
Given all these factors, we may regard exceptionally long positions. We may enter the market after a smooth downward correction of the price, which will be a more profitable entry point. A stop loss may be placed below the new support level.
Profit Potential:
More than 150 points.
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 resistance. The move was on the large volume, so that we may assume that the smart money pushed the price up. Moreover, the large positive delta means that buyers were prevailing the market.
Volume Zones:
We need to point out the new level of support 65.35, which contains the large volume. So institutional players opened their positions in this area.
Sentiment:
This indicator shows that 76% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img923/5760/Tm4BHR.png
Consider Long Positions:
Given all these factors, we may regard exceptionally long positions. We may enter the market after a smooth downward correction of the price, which will be a more profitable entry point. A stop loss may be placed below the new support level.
Profit Potential:
More than 150 points.
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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