GBPUSD LONG on Order Flow - Follow the smart money!
Strong Bullish Signal:
The price demonstrated an abrupt growth and totally swallowed the previous downward correction of the price, which shows the weakness of sellers. Additionally, the move was supported by the large volume and positive delta, which means that the smart money propelled the pair up.
Volume Zones:
We need to point out a new level of resistance 1.3887, which is also a local maximum.
Sentiment:
This indicator shows that 77% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b21/2109/6b/360d152950d8.png
Consider Long Positions:
Given all these factors, we may ponder a scenario of the resistance level breakout, which will be a great bullish signal. The surge must be keen 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:
Around 80-90 points.
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 and totally swallowed the previous downward correction of the price, which shows the weakness of sellers. Additionally, the move was supported by the large volume and positive delta, which means that the smart money propelled the pair up.
Volume Zones:
We need to point out a new level of resistance 1.3887, which is also a local maximum.
Sentiment:
This indicator shows that 77% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b21/2109/6b/360d152950d8.png
Consider Long Positions:
Given all these factors, we may ponder a scenario of the resistance level breakout, which will be a great bullish signal. The surge must be keen 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:
Around 80-90 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
