Strong Bullish Signal:
The pair demonstrated a sharp rise supported by large institutional volume and positive delta. The price is currently trading near the local maximum.
Volume Zones:
We need to point the crucial resistance level 60.30, which contains the large volume.
Sentiment:
This indicator shows that 70% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imageshack.com/i/povDHEeyp
Consider Long Positions:
Given all these factors, we may consider a scenario of a breakout of the resistance, which will be a great bullish signal. The breakout move must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 150 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 demonstrated a sharp rise supported by large institutional volume and positive delta. The price is currently trading near the local maximum.
Volume Zones:
We need to point the crucial resistance level 60.30, which contains the large volume.
Sentiment:
This indicator shows that 70% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imageshack.com/i/povDHEeyp
Consider Long Positions:
Given all these factors, we may consider a scenario of a breakout of the resistance, which will be a great bullish signal. The breakout move must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 150 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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