GBPUSD SHORT on Order Flow - Follow the smart money!
Strong Bearish Signal:
The pair demonstrated a huge drop supported by the large institutional volume. It implies that exactly the smart money pushed the price down. We also need to highlight the presence of the strong downtrend.
Volume Zones:
It is necessary to allocate the support level/local minimum 1.2755. The price is trading near this mark.
Sentiment:
This indicator shows that 68% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d22/2003/3b/3d5de5adac90.png
Consider Short Positions:
Given all these factors, we may reckon a scenario of the breakdown of the support level. The drop must be rapid, sharp and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss should be placed above the breakdown volume bar.
Profit Potential:
More than 130 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 demonstrated a huge drop supported by the large institutional volume. It implies that exactly the smart money pushed the price down. We also need to highlight the presence of the strong downtrend.
Volume Zones:
It is necessary to allocate the support level/local minimum 1.2755. The price is trading near this mark.
Sentiment:
This indicator shows that 68% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d22/2003/3b/3d5de5adac90.png
Consider Short Positions:
Given all these factors, we may reckon a scenario of the breakdown of the support level. The drop must be rapid, sharp and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss should be placed above the breakdown volume bar.
Profit Potential:
More than 130 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
