Strong Bullish Signal:
The pair showed a sharp growth and tested the new level of resistance. The price did not break it out, but is still trading nigh this mark. Moreover, given the recent sharp growth and the presence of the local uptrend, we still should give a slight advantage to long positions.
Volume Zones:
We need to allocated an important level of resistance 1740.50-1745.00, which contains the large volume. Nevertheless, the price is still trading near it, which shows that sellers don't have enough power to propel the price down now.
Sentiment:
This indicator shows that retail traders have even interest in short and long positions (due to the general volume). However, the number of short positions is almost twice as high comparing to long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a34/2004/43/dad6540960f3.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a great bullish signal. The growth must be sharp 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 400 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 showed a sharp growth and tested the new level of resistance. The price did not break it out, but is still trading nigh this mark. Moreover, given the recent sharp growth and the presence of the local uptrend, we still should give a slight advantage to long positions.
Volume Zones:
We need to allocated an important level of resistance 1740.50-1745.00, which contains the large volume. Nevertheless, the price is still trading near it, which shows that sellers don't have enough power to propel the price down now.
Sentiment:
This indicator shows that retail traders have even interest in short and long positions (due to the general volume). However, the number of short positions is almost twice as high comparing to long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a34/2004/43/dad6540960f3.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a great bullish signal. The growth must be sharp 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 400 points.
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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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.
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.