USDJPY LONG on Order Flow - Follow the smart money!
Strong Bullish Signal:
The price resumed rising and totally absorbed the previous downward correction, which shows the weakness of sellers. Moreover, the move was supported by the large volume, that denotes a presence of the significant imbalance of long positions now.
Volume Zones:
We need to point out an important level of resistance/local maximum 106.15. The price is currently testing it at the moment.
Sentiment:
This indicator shows that 76% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d39/2102/aa/e6eb281833ae.png
Consider Long Positions:
Given all these factors, we may reckon a scenario of the resistance level breakout, which will entitle us to open purchases. 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 100 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 resumed rising and totally absorbed the previous downward correction, which shows the weakness of sellers. Moreover, the move was supported by the large volume, that denotes a presence of the significant imbalance of long positions now.
Volume Zones:
We need to point out an important level of resistance/local maximum 106.15. The price is currently testing it at the moment.
Sentiment:
This indicator shows that 76% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d39/2102/aa/e6eb281833ae.png
Consider Long Positions:
Given all these factors, we may reckon a scenario of the resistance level breakout, which will entitle us to open purchases. 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 100 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
