Potential Bullish Signal:
The price carried on rising and is currently trading near the level of resistance/upper boundary of the local consolidation.
Volume Zones:
There is a crucial level of resistance/local maximum 112.00. The large volume is concentrated in it, so we can admit that some institutional players have positions in it.
Sentiment:
This indicator shows that 97% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img921/5323/g4KpVq.png
Consider Long Positions:
Given all these factors, we may consider a scenario of a continuation of the sruge and a breakout of the resistance, which will be a great bullish signal. The move must be abrupt 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 100 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 carried on rising and is currently trading near the level of resistance/upper boundary of the local consolidation.
Volume Zones:
There is a crucial level of resistance/local maximum 112.00. The large volume is concentrated in it, so we can admit that some institutional players have positions in it.
Sentiment:
This indicator shows that 97% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img921/5323/g4KpVq.png
Consider Long Positions:
Given all these factors, we may consider a scenario of a continuation of the sruge and a breakout of the resistance, which will be a great bullish signal. The move must be abrupt 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 100 pips.
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.