VARIANSE
Long

XAUUSD LONG on Order Flow - Follow the smart money!

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Strong Bullish Signal:
The price continued rising, which is a good signal for the further endurance of the local uptrend.
Volume Zones:
We need to point out the new level of support 1961.00 - 1966.50, which contains the large volume . The price is trading above it right now.
Sentiment:
This indicator shows that 60% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c25/2008/a4/c5728ef...
Consider Long Positions:
Given all these factors, we may regard long positions. However, we may consider purchases only after a smooth downward correction of the price, in order to get a better entry point. A stop loss may be placed below the support level .
Profit Potential:
More than 300 points.

To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The Professional Traders choice: https://varianse.com

Comments

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