VARIANSE
Long

GBPUSD LONG on Order Flow - Follow the smart money!

FX:GBPUSD   British Pound / U.S. Dollar
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/b04f5a4...
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 Professional Traders choice: https://varianse.com

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out