Strong Bullish Signal:
The price continued growing and broke out the previous resistance level, which is a good bullish signal.
Volume Zones:
We need to highlight a new level of support 1.1784 - 1.1792, which contains the large volume. Moreover, the price has already tested it and resumed rising.
Sentiment:
This indicator shows that 67% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a12/2108/36/1dc039004c21.png
Consider Long Positions:
Given all these factors, we may ponder long positions after a smooth downward correction, which will allow us to obtain a better entry point. A stop loss may be placed below the new support level.
Profit Potential:
Around 80-85 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The price continued growing and broke out the previous resistance level, which is a good bullish signal.
Volume Zones:
We need to highlight a new level of support 1.1784 - 1.1792, which contains the large volume. Moreover, the price has already tested it and resumed rising.
Sentiment:
This indicator shows that 67% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a12/2108/36/1dc039004c21.png
Consider Long Positions:
Given all these factors, we may ponder long positions after a smooth downward correction, which will allow us to obtain a better entry point. A stop loss may be placed below the new support level.
Profit Potential:
Around 80-85 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
