Strong Long Signal:
The pair resumed rising and now is trading near the level of resistance at the moment. The move was on the large volume + positive delta, which is a great bullish signal.
Volume Zones:
We need to point out the strong resistance level 1.3463, which contains the large volume.
Sentiment:
This indicator shows that 94% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imageshack.com/i/poZyJSHwp
Consider Short Positions:
Given all these factors, we may consider a scenario of a breakout of the resistance level, which will allow us to open long positions. Moreover, the breakout move must be keen and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 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 pair resumed rising and now is trading near the level of resistance at the moment. The move was on the large volume + positive delta, which is a great bullish signal.
Volume Zones:
We need to point out the strong resistance level 1.3463, which contains the large volume.
Sentiment:
This indicator shows that 94% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imageshack.com/i/poZyJSHwp
Consider Short Positions:
Given all these factors, we may consider a scenario of a breakout of the resistance level, which will allow us to open long positions. Moreover, the breakout move must be keen and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 100 points.
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.