GBPUSD LONG on Order Flow - Follow the smart money!
Strong Bullish Signal:
The price showed an abrupt growth supported by the large volume and broke out the previous resistance level. The large positive delta means that there is a significant imbalance of purchases.
Volume Zones:
We need to allocate the new level of resistance 1.2565 - 1.2585. The price is currently testing it.
Sentiment:
This indicator shows that 69% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c29/2007/d3/ee0f17605afc.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 sharp and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 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 showed an abrupt growth supported by the large volume and broke out the previous resistance level. The large positive delta means that there is a significant imbalance of purchases.
Volume Zones:
We need to allocate the new level of resistance 1.2565 - 1.2585. The price is currently testing it.
Sentiment:
This indicator shows that 69% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c29/2007/d3/ee0f17605afc.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 sharp and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 150 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
