Strong Bullish Signal:
The price corrected down, but the move was smooth and on the small volume, so we can;t regard it as a reversal signal. Moreover, the presence of the local uptrend and the recent sharp growth supported by the large volume, we may still give advantage to long positions.
Volume Zones:
We need to highlight the new volume level of support 1.2060, which has been already tested and the price restarted its growth exactly from this mark.
Sentiment:
This indicator shows that 78% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b35/2104/d6/74ac5af12998.png
Consider Long Positions:
Given all these factors, we may ponder long positions after a stoppage of the correction and a resumption of the keen growth, supported by the large volume. It will be a more precise and secure signal for entering the market. A stop loss may be placed below the new support level.
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 corrected down, but the move was smooth and on the small volume, so we can;t regard it as a reversal signal. Moreover, the presence of the local uptrend and the recent sharp growth supported by the large volume, we may still give advantage to long positions.
Volume Zones:
We need to highlight the new volume level of support 1.2060, which has been already tested and the price restarted its growth exactly from this mark.
Sentiment:
This indicator shows that 78% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b35/2104/d6/74ac5af12998.png
Consider Long Positions:
Given all these factors, we may ponder long positions after a stoppage of the correction and a resumption of the keen growth, supported by the large volume. It will be a more precise and secure signal for entering the market. A stop loss may be placed below the new support level.
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 -
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.