Strong Bullish Signal:
The pair showed a sharp growth and broke out the previous level of resistance. yes, the price corrected downwards, but it was smooth and on the small volume, so we can't consider it as a reversal signal.
Volume Zones:
The volume was small yesterday, hence, we cannot allocate any new volume levels or zones.
Sentiment:
This indicator shows that 96% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b19/2003/47/22a4351266ad.png
Consider Long Positions:
Given all these factors, we still should give a slight advantage to long positions. However, we may enter the market only after a resumption of an abrupt growth supported by the large volume. It will show that purchases dis-balance is still actual. A stop loss should be placed below the beginning of this move.
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 pair showed a sharp growth and broke out the previous level of resistance. yes, the price corrected downwards, but it was smooth and on the small volume, so we can't consider it as a reversal signal.
Volume Zones:
The volume was small yesterday, hence, we cannot allocate any new volume levels or zones.
Sentiment:
This indicator shows that 96% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b19/2003/47/22a4351266ad.png
Consider Long Positions:
Given all these factors, we still should give a slight advantage to long positions. However, we may enter the market only after a resumption of an abrupt growth supported by the large volume. It will show that purchases dis-balance is still actual. A stop loss should be placed below the beginning of this move.
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 -
