Strong Bullish Signal:
The pair showed a sharp growth and is testing the level of resistance now. The move was on the large volume and positive delta, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge.
Volume Zones:
It is necessary to allocate the level of resistance 1.1060.
Sentiment:
This indicator shows that 77% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c13/1910/19/e566924b273c.png
Consider Long Positions:
Considering all these factors, we may reckon a scenario of the breakout of the resistance, which will be a great bullish signal. The growth must be keen 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 100 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 is testing the level of resistance now. The move was on the large volume and positive delta, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge.
Volume Zones:
It is necessary to allocate the level of resistance 1.1060.
Sentiment:
This indicator shows that 77% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c13/1910/19/e566924b273c.png
Consider Long Positions:
Considering all these factors, we may reckon a scenario of the breakout of the resistance, which will be a great bullish signal. The growth must be keen 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 100 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
