Strong Bullish Signal:
THe price resumed rising after the support level test. Hence, we may state that the uptrend is going on, which is a great bullish signal. Now the price is trading above this new volume zone. Volume Zones:
It is necessary to point out the new support level 1.2228 – 1.2236, which contains the large volume and has been already tested by the price. Sentiment:
This indicator shows that 78% retails traders are in short positions, which is a good additional signal for us (trading against the “crowd”).… Consider Long Positions:
Given all these factors, we should prefer a scenario of opening long positions. We may enter the market after a resumption of an abrupt surge supported by the large volume and the breakout of the local maximum. It will be a more precise signal of the further continuation of the local uptrend. A stop loss may be placed below the new support level . Profit Potential:
More than 100 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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