Strong Bullish Signal:
The pair showed a sharp growth on the large volume, but further move was stopped by the new resistance level. However, the price is testing it at the moment.
Volume Zones:
It is necessary to point out the new level of resistance 1.1320. It contains the large volume.
Sentiment:
This indicator shows that 80% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img923/4417/O3uYrv.png
Consider Long Positions:
Given all these factors, we may reckon a scenario of the breakout of this mark, which will allow us to open long positions. The breakout movement must be abrupt and supported by the large volume, which will insure us against a fake breakout. 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 on the large volume, but further move was stopped by the new resistance level. However, the price is testing it at the moment.
Volume Zones:
It is necessary to point out the new level of resistance 1.1320. It contains the large volume.
Sentiment:
This indicator shows that 80% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://imagizer.imageshack.com/img923/4417/O3uYrv.png
Consider Long Positions:
Given all these factors, we may reckon a scenario of the breakout of this mark, which will allow us to open long positions. The breakout movement must be abrupt and supported by the large volume, which will insure us against a fake breakout. 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 -
