Strong Bullish Signal:
The price is still trading above the new volume support level. Yes, the price corrected down, but the fall was on the small volume, so we can't consider it as a reversal signal. Moreover, there is a strong local uptrend with the Euro.
Volume Zones:
We need to point out an important level of support 1.2002 - 1.2010, which contains the large volume.
Sentiment:
This indicator shows that 76% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b18/2104/87/ea20aa837a4e.png
Consider Long Positions:
Given all these factors, we may regard long positions after a smooth downward correction of the price, in order to get a more profitable entry point. A stop loss may be placed below the new support level.
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 price is still trading above the new volume support level. Yes, the price corrected down, but the fall was on the small volume, so we can't consider it as a reversal signal. Moreover, there is a strong local uptrend with the Euro.
Volume Zones:
We need to point out an important level of support 1.2002 - 1.2010, which contains the large volume.
Sentiment:
This indicator shows that 76% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b18/2104/87/ea20aa837a4e.png
Consider Long Positions:
Given all these factors, we may regard long positions after a smooth downward correction of the price, in order to get a more profitable entry point. A stop loss may be placed below the new support level.
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 -
