Strong Bullish Signal:
The pair showed a sharp growth and broke out the previous resistance level, which is a great bullish signal. The movement was supported by the large volume and positive delta, which means that institutional buyers were dominating the market.
Volume Zones:
We need to allocated an important level of resistance 0.7002, which stopped the farther rise of the pair. It contains the large volume.
Sentiment:
This indicator shows that 79% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img923/6913/313qbY.png
Consider Long Positions:
Given all these factors, we may reckon a scenario of the breakout of the resistance, which will allow us to open long positions. The growth 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 80 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 broke out the previous resistance level, which is a great bullish signal. The movement was supported by the large volume and positive delta, which means that institutional buyers were dominating the market.
Volume Zones:
We need to allocated an important level of resistance 0.7002, which stopped the farther rise of the pair. It contains the large volume.
Sentiment:
This indicator shows that 79% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img923/6913/313qbY.png
Consider Long Positions:
Given all these factors, we may reckon a scenario of the breakout of the resistance, which will allow us to open long positions. The growth 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 80 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
