Strong Bullish Signal:
The price showed a sharp growth supported by the large volume and broke out the previous level of resistance. Moreover, the large positive delta implies that buyers are dominating the market.
Volume Zones:
We need to allocated an important level of resistance 55.80-56.00, which contains the large volume. Now the price is trading near this mark.
Sentiment:
This indicator shows that 82% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a30/1910/34/eed9f7e8d091.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a great bullish signal. The growth must be sharp 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 200 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 showed a sharp growth supported by the large volume and broke out the previous level of resistance. Moreover, the large positive delta implies that buyers are dominating the market.
Volume Zones:
We need to allocated an important level of resistance 55.80-56.00, which contains the large volume. Now the price is trading near this mark.
Sentiment:
This indicator shows that 82% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a30/1910/34/eed9f7e8d091.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a great bullish signal. The growth must be sharp 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 200 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
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