Strong Bullish Signal:
The price continued its sharp growth, which started last Friday. The movement was on the average volume, however, the price is trading above the new volume support level.
Volume Zones:
We need to point out an important level of support 1.2020 - 1.2026, which has been tested.
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://c.radikal.ru/c23/2102/5b/bfff0c978800.png
Consider Long Positions:
Given all these factors, we may ponder long positions after a smooth downward correction, in order to get a better entry point. A stop loss may be placed below the new support level.
Profit Potential:
Approximately 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 continued its sharp growth, which started last Friday. The movement was on the average volume, however, the price is trading above the new volume support level.
Volume Zones:
We need to point out an important level of support 1.2020 - 1.2026, which has been tested.
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://c.radikal.ru/c23/2102/5b/bfff0c978800.png
Consider Long Positions:
Given all these factors, we may ponder long positions after a smooth downward correction, in order to get a better entry point. A stop loss may be placed below the new support level.
Profit Potential:
Approximately 100 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.