GBPUSD LONG on Order Flow - Follow the smart money!
Strong Bullish Signal:
The pair showed a sharp growth and tested the level of resistance. The price did not break it out, but is still trading near it. The move was on the large volume, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge.
Volume Zones:
We need to point out an important level of resistance 1.3743, which contains the large volume.
Sentiment:
This indicator shows that 68% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d40/2101/57/b4e48d9e27c6.png
Consider Long Positions:
Given all these factors, we may ponder a scenario of the resistance level breakout, which will allow us to open long positions. The surge 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 150 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The pair showed a sharp growth and tested the level of resistance. The price did not break it out, but is still trading near it. The move was on the large volume, so that we may assume that the smart money pushed the price up. It increases the possibility of the further surge.
Volume Zones:
We need to point out an important level of resistance 1.3743, which contains the large volume.
Sentiment:
This indicator shows that 68% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d40/2101/57/b4e48d9e27c6.png
Consider Long Positions:
Given all these factors, we may ponder a scenario of the resistance level breakout, which will allow us to open long positions. The surge 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 150 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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