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 -
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