USDCAD LONG on Order Flow - Follow the smart money!
Strong Bullish Signal:
The pair demonstrated a keen growth and broke out the resistance level, which is a great bullish signal. 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. Furthermore, the large positive delta means that buyers were dominating the market.
Volume Zones:
We need to point out the important level of resistance 1.3515. The large volume is concentrated within this range.
Sentiment:
This indicator shows that 96% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a00/1904/35/d28ed1436459.png
Consider Long Positions:
Given all these factors, we may consider a scenario of the breakout of the resistance, which will be a strong bullish signal. The surge must be sharp and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed below the breakout volume bar.
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 -
The pair demonstrated a keen growth and broke out the resistance level, which is a great bullish signal. 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. Furthermore, the large positive delta means that buyers were dominating the market.
Volume Zones:
We need to point out the important level of resistance 1.3515. The large volume is concentrated within this range.
Sentiment:
This indicator shows that 96% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a00/1904/35/d28ed1436459.png
Consider Long Positions:
Given all these factors, we may consider a scenario of the breakout of the resistance, which will be a strong bullish signal. The surge must be sharp and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed below the breakout volume bar.
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 -
