USDWTI SHORT on Order Flow - Follow the smart money!
Strong Bearish Signal:
Price demonstrated a huge drop supported by large institutional volume and broke through the previous support level. Moreover, the large negative delta confirms that sellers were dominating the market.
Volume Zones:
We need to point out the new support level 57.60, which stopped the further fall and contains increased volume.
Sentiment:
This indicator shows that 83% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b15/1905/d6/556dc1454c81.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a sharp and confident breakdown of the new support level. The move must be supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 150 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
Price demonstrated a huge drop supported by large institutional volume and broke through the previous support level. Moreover, the large negative delta confirms that sellers were dominating the market.
Volume Zones:
We need to point out the new support level 57.60, which stopped the further fall and contains increased volume.
Sentiment:
This indicator shows that 83% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b15/1905/d6/556dc1454c81.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a sharp and confident breakdown of the new support level. The move must be supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 150 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
