Strong Bullish Signal:
The price resumed rising and totally absorbed the previous downward correction, which shows the weakness of sellers. Moreover, the move was supported by the large volume, that denotes a presence of the significant imbalance of long positions now.
Volume Zones:
We need to point out an important level of resistance/local maximum 106.15. The price is currently testing it at the moment.
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://d.radikal.ru/d39/2102/aa/e6eb281833ae.png
Consider Long Positions:
Given all these factors, we may reckon a scenario of the resistance level breakout, which will entitle us to open purchases. The surge must be keen 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 100 points.
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 and totally absorbed the previous downward correction, which shows the weakness of sellers. Moreover, the move was supported by the large volume, that denotes a presence of the significant imbalance of long positions now.
Volume Zones:
We need to point out an important level of resistance/local maximum 106.15. The price is currently testing it at the moment.
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://d.radikal.ru/d39/2102/aa/e6eb281833ae.png
Consider Long Positions:
Given all these factors, we may reckon a scenario of the resistance level breakout, which will entitle us to open purchases. The surge must be keen 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 100 points.
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.