Strong Bullish Signal:
The pair continued rising and now is testing the resistance level. Moreover, the price has totally absorbed the previous fall of the price and formed V-shape pattern, which shows the weakness of sellers.
Volume Zones:
We need to allocate an important level of resistance 1.3767, which the price started falling from.
Sentiment:
This indicator shows that 62% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a27/2108/3e/fbef11bdeb51.png
Consider Long Positions:
Given all these factors, we may cogitate a breakout of the resistance level, which will be a great bullish signal. 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:
Around 100 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 continued rising and now is testing the resistance level. Moreover, the price has totally absorbed the previous fall of the price and formed V-shape pattern, which shows the weakness of sellers.
Volume Zones:
We need to allocate an important level of resistance 1.3767, which the price started falling from.
Sentiment:
This indicator shows that 62% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a27/2108/3e/fbef11bdeb51.png
Consider Long Positions:
Given all these factors, we may cogitate a breakout of the resistance level, which will be a great bullish signal. 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:
Around 100 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
