USDJPY SHORT on Order Flow - Follow the smart money!
Strong Bearish Signal:
The price demonstrated a significant and sharp fall supported by the large institutional volume last week. It means that the smart money pushed the price downwards.
Volume Zones:
It is necessary to allocate the new support/local minimum 104.37. The price corrected upwards after its creation. However, the move was on the small volume. besides it, the price is trading nigh this mark now.
Sentiment:
This indicator shows that 75% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b27/2009/22/6b91a606e5d9.png
Consider Short Positions:
Given all these factors, we may cogitate a further continuation of the local downtrend and the breakdown of the support level. The breakdown move must be keen and supported by the large volume, which will be a more precise signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 120 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 a significant and sharp fall supported by the large institutional volume last week. It means that the smart money pushed the price downwards.
Volume Zones:
It is necessary to allocate the new support/local minimum 104.37. The price corrected upwards after its creation. However, the move was on the small volume. besides it, the price is trading nigh this mark now.
Sentiment:
This indicator shows that 75% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b27/2009/22/6b91a606e5d9.png
Consider Short Positions:
Given all these factors, we may cogitate a further continuation of the local downtrend and the breakdown of the support level. The breakdown move must be keen and supported by the large volume, which will be a more precise signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 120 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
