Strong Bullish Signal:
The pair resumed rising and totally absorbed the previous correction, which means that buyers are dominating the market now. The move was on the increased volume, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge.
Volume Zones:
We need to point out an important level of resistance 1.3696, which contains the large volume. The price is trading near this mark.
Sentiment:
This indicator shows that 81% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c32/2101/fa/c54e60536b2f.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the resistance level breakout, which will be a great bullish signal. The surge 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 150 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The pair resumed rising and totally absorbed the previous correction, which means that buyers are dominating the market now. The move was on the increased volume, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge.
Volume Zones:
We need to point out an important level of resistance 1.3696, which contains the large volume. The price is trading near this mark.
Sentiment:
This indicator shows that 81% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c32/2101/fa/c54e60536b2f.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the resistance level breakout, which will be a great bullish signal. The surge 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 150 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
