Strong Bullish Signal:
The price showed a sharp and confident growth supported by the large volume. Moreover, the large positive delta increases the possibility of the further surge.
Volume Zones:
We need to allocated an important level of resistance 1.2254, which contains the large volume.
Consider Long Positions:
Given all these factors, we should give preference to long positions. We may enter the market only after the breakout of the resistance. The growth must be sharp and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed below the breakout volume bar.
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 price showed a sharp and confident growth supported by the large volume. Moreover, the large positive delta increases the possibility of the further surge.
Volume Zones:
We need to allocated an important level of resistance 1.2254, which contains the large volume.
Consider Long Positions:
Given all these factors, we should give preference to long positions. We may enter the market only after the breakout of the resistance. The growth must be sharp and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed below the breakout volume bar.
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 -
