AUDUSD SHORT on Order Flow - Follow the smart money!
Strong Bearish Signal:
The price tested the resistance level, but could not break it out and after that showed a sharp drop. The movement was on the large volume, which only enhances it importance.
Volume Zones:
We need to allocated a strong volume resistance level 0.6932, that has already been tested a couple of times.
Sentiment:
This indicator shows that 93% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a23/1905/fd/0756ad78fdea.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
Profit Potential:
More than 80 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 tested the resistance level, but could not break it out and after that showed a sharp drop. The movement was on the large volume, which only enhances it importance.
Volume Zones:
We need to allocated a strong volume resistance level 0.6932, that has already been tested a couple of times.
Sentiment:
This indicator shows that 93% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a23/1905/fd/0756ad78fdea.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We may enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
Profit Potential:
More than 80 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
