Strong Bullish Signal:
The pair showed a sharp surge and now is trading near the level of resistance. The movement was supported by the large volume, which implies that buyers regained their power and pushed the price up.
Volume Zones:
It is necessary to point out the resistance level/upper limit of the local range 109.00.
Sentiment:
This indicator shows that 89% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d11/1911/d7/49eff200baf1.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a good bullish signal. The rise must be abrupt 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 110 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 surge and now is trading near the level of resistance. The movement was supported by the large volume, which implies that buyers regained their power and pushed the price up.
Volume Zones:
It is necessary to point out the resistance level/upper limit of the local range 109.00.
Sentiment:
This indicator shows that 89% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d11/1911/d7/49eff200baf1.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a good bullish signal. The rise must be abrupt 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 110 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
