Strong Bullish Signal:
The price resumed rising after the test of the support level, which is a good signal for further continuation of the local uptrend. Moreover, the bounce was pretty sharp and confident.
Volume Zones:
We need to point out an important level of support 1889.50 - 1894.70, which contains the large volume.
Sentiment:
This indicator shows that 68% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d37/2106/85/bc34ced34c33.png
Consider Long Positions:
Our previous scenario remains the same: we can open purchases after a smooth downward correction of the price, in order to get a better entry point. A stop loss should be placed below the new support level.
Profit Potential:
More than 400 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 after the test of the support level, which is a good signal for further continuation of the local uptrend. Moreover, the bounce was pretty sharp and confident.
Volume Zones:
We need to point out an important level of support 1889.50 - 1894.70, which contains the large volume.
Sentiment:
This indicator shows that 68% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d37/2106/85/bc34ced34c33.png
Consider Long Positions:
Our previous scenario remains the same: we can open purchases after a smooth downward correction of the price, in order to get a better entry point. A stop loss should be placed below the new support level.
Profit Potential:
More than 400 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.