Strong Bullish Signal:
The price demonstrated an abrupt growth and broke out the previous resistance, which shows the weakness of sellers as they could not hold the price. Moreover, the increased volume and large positive delta indicates imbalance of purchases.
Volume Zones:
The volume was evenly spread across the chart during the rise, hence, we can't allocate any new volume levels or zones.
Sentiment:
This indicator shows that 75% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b05/2006/de/d907d084eeab.png
Consider Long Positions:
Given all these factors, we should prefer a scenario of opening long positions. We may enter the market after a smooth downward correction of the price, in order to get a better entry point. A stop loss should be placed below the beginning of the breakout movement.
Profit Potential:
More than 150 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 demonstrated an abrupt growth and broke out the previous resistance, which shows the weakness of sellers as they could not hold the price. Moreover, the increased volume and large positive delta indicates imbalance of purchases.
Volume Zones:
The volume was evenly spread across the chart during the rise, hence, we can't allocate any new volume levels or zones.
Sentiment:
This indicator shows that 75% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b05/2006/de/d907d084eeab.png
Consider Long Positions:
Given all these factors, we should prefer a scenario of opening long positions. We may enter the market after a smooth downward correction of the price, in order to get a better entry point. A stop loss should be placed below the beginning of the breakout movement.
Profit Potential:
More than 150 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
