Strong Bullish Signal:
The price demonstrated an abrupt growth supported by the increased volume. As a result, the previous resistance level has been broken out. Besides it, the large positive delta shows that buyers are dominating the market.
Volume Zones:
The volume was evenly scattered throughout the rise, so we can't allocate any new volume level or zone.
Sentiment:
This indicator shows that 76% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d23/2007/b1/2144453efbaf.png
Consider Long Positions:
Given all these factors, we should give preference to long positions. We may enter the market after a smooth and slight downward correction, in order to get a better entry point. A stop loss should be placed below the breakout volume bar.
Profit Potential:
More than 300 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 an abrupt growth supported by the increased volume. As a result, the previous resistance level has been broken out. Besides it, the large positive delta shows that buyers are dominating the market.
Volume Zones:
The volume was evenly scattered throughout the rise, so we can't allocate any new volume level or zone.
Sentiment:
This indicator shows that 76% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d23/2007/b1/2144453efbaf.png
Consider Long Positions:
Given all these factors, we should give preference to long positions. We may enter the market after a smooth and slight downward correction, in order to get a better entry point. A stop loss should be placed below the breakout volume bar.
Profit Potential:
More than 300 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.