GBPUSD LONG on Order Flow - Follow the smart money!
Strong Bullish Signal:
The price had grown up and broke out the previous resistance level. It shows the weakness of sellers. Furthermore, the movement was keen and supported by the large volume. Besides it, the huge positive delta during the rise shows the significant dis-balance of purchases now.
Volume Zones:
It is necessary to point out the new support level 1.2277 - 1.2287, which contains the large volume.
Sentiment:
This indicator shows that 70% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d04/2005/f5/b04f5a4c759f.png
Consider Long Positions:
Given all these factors, we should consider exactly long positions. We may enter the market after a smooth downward correction of the price, in order to get a better entry point. A stop loss should be placed below the support level with a little margin.
Profit Potential:
Around 140-150 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The price had grown up and broke out the previous resistance level. It shows the weakness of sellers. Furthermore, the movement was keen and supported by the large volume. Besides it, the huge positive delta during the rise shows the significant dis-balance of purchases now.
Volume Zones:
It is necessary to point out the new support level 1.2277 - 1.2287, which contains the large volume.
Sentiment:
This indicator shows that 70% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d04/2005/f5/b04f5a4c759f.png
Consider Long Positions:
Given all these factors, we should consider exactly long positions. We may enter the market after a smooth downward correction of the price, in order to get a better entry point. A stop loss should be placed below the support level with a little margin.
Profit Potential:
Around 140-150 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
