Strong Bullish Signal:
The pair continued rising. Moreover, the growth was sharp and supported by the large volume, that means that institutional players pushed the price further up.
Volume Zones:
We need to allocated an important level of support 1.0938 - 1.0951, which contains the large volume.
Sentiment:
This indicator shows that 71% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d37/2005/72/22607c5db7eb.png
Consider Long Positions:
Given all these factors, we may regard a scenario of opening 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 120 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The pair continued rising. Moreover, the growth was sharp and supported by the large volume, that means that institutional players pushed the price further up.
Volume Zones:
We need to allocated an important level of support 1.0938 - 1.0951, which contains the large volume.
Sentiment:
This indicator shows that 71% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d37/2005/72/22607c5db7eb.png
Consider Long Positions:
Given all these factors, we may regard a scenario of opening 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 120 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
