Strong Bullish Signal:
The price tested the support level, but could not break it down and resumed rising. The move was supported by the large volume and positive delta, which shows that there is a significant purchases imbalance right now. Besides it, we need to, mention a recent sharp growth of the pair.
Volume Zones:
We need to point out an important level of support 1.1865, which contains the large volume.
Sentiment:
This indicator shows that 69% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a07/2104/5c/0627fc90dcac.png
Consider Long Positions:
Given all these factors, we may prefer a scenario of opening long positions. We may enter the market after a smooth downward correction of the price, in order to obtain a more profitable entry point. A stop loss may be placed below the new support level.
Profit Potential:
Around 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 tested the support level, but could not break it down and resumed rising. The move was supported by the large volume and positive delta, which shows that there is a significant purchases imbalance right now. Besides it, we need to, mention a recent sharp growth of the pair.
Volume Zones:
We need to point out an important level of support 1.1865, which contains the large volume.
Sentiment:
This indicator shows that 69% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a07/2104/5c/0627fc90dcac.png
Consider Long Positions:
Given all these factors, we may prefer a scenario of opening long positions. We may enter the market after a smooth downward correction of the price, in order to obtain a more profitable entry point. A stop loss may be placed below the new support level.
Profit Potential:
Around 100 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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