XAUUSD SHORT on Order Flow - Follow the smart money!
Strong Bearish Signal:
The pair tested the support level, however, could not break it down. Nevertheless, the further upward correction was smooth and on the small volume, so we can't cogitate is as a reversal signal.
Volume Zones:
It is necessary to allocate an important support level 1854.00 - 1857.60. The price is currently trading near it.
Sentiment:
This indicator shows that 66% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b37/2011/fc/6571f7976785.png
Consider Short Positions:
Given all these factors, our previous scenario remains actual. We may ponder a support level breakdown, which will allow us to open short positions. The drop 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 300 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 tested the support level, however, could not break it down. Nevertheless, the further upward correction was smooth and on the small volume, so we can't cogitate is as a reversal signal.
Volume Zones:
It is necessary to allocate an important support level 1854.00 - 1857.60. The price is currently trading near it.
Sentiment:
This indicator shows that 66% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b37/2011/fc/6571f7976785.png
Consider Short Positions:
Given all these factors, our previous scenario remains actual. We may ponder a support level breakdown, which will allow us to open short positions. The drop 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 300 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
