Strong Bullish Signal:
The price went on rising, moreover, the movement was sharp and supported by the large volume. Besides it, the surge was on the large positive delta, that shows that buyers are prevailing right now.
Volume Zones:
We need to point out the new level of support 0.7858 - 0.7864, which contains the large volume.
Sentiment:
This indicator shows that 91% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c01/2102/d6/2b1610a40d31.png
Consider Long Positions:
Given all these factors, we may reckon long positions after a smooth downward correction of the price, in order to get a better entry point. A stop loss should be placed below the new support level.
Profit Potential:
More than 70 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The price went on rising, moreover, the movement was sharp and supported by the large volume. Besides it, the surge was on the large positive delta, that shows that buyers are prevailing right now.
Volume Zones:
We need to point out the new level of support 0.7858 - 0.7864, which contains the large volume.
Sentiment:
This indicator shows that 91% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c01/2102/d6/2b1610a40d31.png
Consider Long Positions:
Given all these factors, we may reckon long positions after a smooth downward correction of the price, in order to get a better entry point. A stop loss should be placed below the new support level.
Profit Potential:
More than 70 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
