Technical Situation:
The price continues trading inside the local consolidation between 2 strong volume levels. Besides it, we need to highlight that the large volume is accumulated within this range, hence, the smart money are taking their positions before the next local trend now.
Volume Zones:
It is important to point out the boundaries of the local range. They are the support 1838.10 and the resistance 1869.50.
Sentiment:
This indicator shows that 60% retails traders are in long positions, so we should give a slight advantage to short positions (trading against the "crowd").
https://c.radikal.ru/c03/2101/8a/4e5c8034343b.png
Consider New Positions:
Given all these factors, we may ponder new positions only after the keen exit of the price from the range. The breakout movement must be sharp and supported by the large volume, which will be a more precise signal for entering the market.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The price continues trading inside the local consolidation between 2 strong volume levels. Besides it, we need to highlight that the large volume is accumulated within this range, hence, the smart money are taking their positions before the next local trend now.
Volume Zones:
It is important to point out the boundaries of the local range. They are the support 1838.10 and the resistance 1869.50.
Sentiment:
This indicator shows that 60% retails traders are in long positions, so we should give a slight advantage to short positions (trading against the "crowd").
https://c.radikal.ru/c03/2101/8a/4e5c8034343b.png
Consider New Positions:
Given all these factors, we may ponder new positions only after the keen exit of the price from the range. The breakout movement must be sharp and supported by the large volume, which will be a more precise signal for entering the market.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
