GBPUSD LONG on Order Flow - Follow the smart money!
Strong Bullish Signal:
The pair showed a sharp growth and broke out the previous level of resistance. The move was on the large volume, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge. Moreover, the large positive delta means that the smart money were dominating the market.
Volume Zones:
We need to allocate an important level of resistance 1.3022, which contains the large volume. So we might admit that institutional players enterted the market.
Sentiment:
This indicator shows that 82% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a26/1905/93/7b0584f1ef1b.png
Consider Long Positions:
Given all these factors, we may regard a scenario of opening long positions. However, we may enter the market only after the continuation of ghe growth of the price. The move 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 new support.
Profit Potential:
More than 140 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 and broke out the previous level of resistance. The move was on the large volume, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge. Moreover, the large positive delta means that the smart money were dominating the market.
Volume Zones:
We need to allocate an important level of resistance 1.3022, which contains the large volume. So we might admit that institutional players enterted the market.
Sentiment:
This indicator shows that 82% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a26/1905/93/7b0584f1ef1b.png
Consider Long Positions:
Given all these factors, we may regard a scenario of opening long positions. However, we may enter the market only after the continuation of ghe growth of the price. The move 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 new support.
Profit Potential:
More than 140 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
