Strong Bullish Signal:
The pair showed a sharp growth supported by the large volume. It implies that institutional players pushed the price upwards.
Volume Zones:
We need to allocated an important level of resistance 17.23, which contains increased volume.
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.
If the price continues trading inside the range, we'd better stay out of the market.
Profit Potential:
More than 70 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The pair showed a sharp growth supported by the large volume. It implies that institutional players pushed the price upwards.
Volume Zones:
We need to allocated an important level of resistance 17.23, which contains increased volume.
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.
If the price continues trading inside the range, we'd better stay out of the market.
Profit Potential:
More than 70 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
