GBPUSD LONG on Order Flow - Follow the smart money!
Strong Bullish Signal:
The price demonstrated an abrupt growth supported by the huge volume, which is a good indicator of a continuation of the uptrend. Moreover, the large positive delta means that buyers are prevailing the market now.
Volume Zones:
We need to allocated an important level of resistance 1.2940, which stopped the further growth. However, the price did not show any sharp reaction or correction and is still trading near it.
Sentiment:
This indicator shows that 74% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b41/1910/52/37f881dd02b9.png
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.
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 price demonstrated an abrupt growth supported by the huge volume, which is a good indicator of a continuation of the uptrend. Moreover, the large positive delta means that buyers are prevailing the market now.
Volume Zones:
We need to allocated an important level of resistance 1.2940, which stopped the further growth. However, the price did not show any sharp reaction or correction and is still trading near it.
Sentiment:
This indicator shows that 74% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b41/1910/52/37f881dd02b9.png
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.
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 -
