Strong Bullish Signal:
The price demonstrated a sharp and confident growth on Friday. The surge was supported by both large volume and positive delta, which shows a huge imbalance of purchases at the moment.
Volume Zones:
We need to allocated an important level of resistance 109.71 - 109.79, which contains the large volume.
Sentiment:
This indicator shows that 72% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c01/2006/48/1cef1eb3cd63.png
Consider Long Positions:
Given all these factors, we should prefer a scenario of opening long positions. We may enter the market after a breakout of the resistance, which will open the space for the further rise of the pair. The surge 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 130 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 demonstrated a sharp and confident growth on Friday. The surge was supported by both large volume and positive delta, which shows a huge imbalance of purchases at the moment.
Volume Zones:
We need to allocated an important level of resistance 109.71 - 109.79, which contains the large volume.
Sentiment:
This indicator shows that 72% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c01/2006/48/1cef1eb3cd63.png
Consider Long Positions:
Given all these factors, we should prefer a scenario of opening long positions. We may enter the market after a breakout of the resistance, which will open the space for the further rise of the pair. The surge 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 130 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.