Strong Bullish Signal:
The price demonstrated an abrupt and sharp growth supported by the large volume, which means that the smart money pushed the pair up. Besides it, the move was on the large positive delta, which implies that buyers are dominating the market now.
Volume Zones:
We need to point out an important level of resistance/local maximum 1.3743. The price is currently trading near it.
Sentiment:
This indicator shows that 74% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d29/2102/eb/020a4ef057fa.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a great bullish signal. The surge must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 150 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 demonstrated an abrupt and sharp growth supported by the large volume, which means that the smart money pushed the pair up. Besides it, the move was on the large positive delta, which implies that buyers are dominating the market now.
Volume Zones:
We need to point out an important level of resistance/local maximum 1.3743. The price is currently trading near it.
Sentiment:
This indicator shows that 74% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d29/2102/eb/020a4ef057fa.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a great bullish signal. The surge must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 150 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
