XAUUSD LONG on Order Flow - Follow the smart money!
Strong Bullish Signal:
The price continued rising and totally absorbed the previous downward correction, which is a good bullish signal. Moreover, the beginning of this surge was supported by the huge volume, which implies that buyers propelled the pair up.
Volume Zones:
We need to highlight an important level of resistance 1811.50, which contains the large volume. The price is still trading nigh this mark.
Sentiment:
This indicator shows that 59% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d00/2112/c4/3f04a3bb9889.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a great bullish signal. The growth must be keen 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 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 price continued rising and totally absorbed the previous downward correction, which is a good bullish signal. Moreover, the beginning of this surge was supported by the huge volume, which implies that buyers propelled the pair up.
Volume Zones:
We need to highlight an important level of resistance 1811.50, which contains the large volume. The price is still trading nigh this mark.
Sentiment:
This indicator shows that 59% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d00/2112/c4/3f04a3bb9889.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a great bullish signal. The growth must be keen 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 300 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
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