Current situation:
The price tested the upper boundary of the local range yesterday, but could not break it out. Now the price is still locked within this local consolidation, where the large volume is concentrated. Hence, we may assume that institutional clients are gathering liquidity for the new sharp momentum of the pair.
Volume Zones:
The boundaries of the range are the support 107.31 and the resistance 108.05.
Sentiment:
This indicator shows that 60% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd"). Nevertheless, we should wait for the exit of the price first.
https://c.radikal.ru/c08/2004/08/3a65a1526fef.png
Consider New Positions:
Given all these factors, we can regard new trading positions only after the sharp exit of the price from the range. Moreover, the breakout movement must be abrupt, confident and supported by the large volume. It will be a more reliable signal for entering the market.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The price tested the upper boundary of the local range yesterday, but could not break it out. Now the price is still locked within this local consolidation, where the large volume is concentrated. Hence, we may assume that institutional clients are gathering liquidity for the new sharp momentum of the pair.
Volume Zones:
The boundaries of the range are the support 107.31 and the resistance 108.05.
Sentiment:
This indicator shows that 60% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd"). Nevertheless, we should wait for the exit of the price first.
https://c.radikal.ru/c08/2004/08/3a65a1526fef.png
Consider New Positions:
Given all these factors, we can regard new trading positions only after the sharp exit of the price from the range. Moreover, the breakout movement must be abrupt, confident and supported by the large volume. It will be a more reliable signal for entering the market.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.