Strong Bullish Signal:
The price is still trading near the local maximum. Given the strong local uptrend, we still should give preference to long positions.
Volume Zones:
We need to point out an important level of resistance/local maximum 1.3135-1.3165.
Sentiment:
This indicator shows that 66% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c11/2008/53/e0aa957247d2.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 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 is still trading near the local maximum. Given the strong local uptrend, we still should give preference to long positions.
Volume Zones:
We need to point out an important level of resistance/local maximum 1.3135-1.3165.
Sentiment:
This indicator shows that 66% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c11/2008/53/e0aa957247d2.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 150 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.