USDCAD SHORT on Order Flow - Follow the smart money!
Strong Bearish Signal:
The price demonstrated a huge drop supported by increased institutional volume and broke through the previous support level. It is a great signal of the further drop of the pair.
Volume Zones:
Unfortunately the volume was evenly spread across the fall, hence we can't allocate any new volume level or zone.
Sentiment:
This indicator shows that 87% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a35/2103/49/61fb47a9fe81.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 breakdown volume bar.
Profit Potential:
More than 120 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 demonstrated a huge drop supported by increased institutional volume and broke through the previous support level. It is a great signal of the further drop of the pair.
Volume Zones:
Unfortunately the volume was evenly spread across the fall, hence we can't allocate any new volume level or zone.
Sentiment:
This indicator shows that 87% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a35/2103/49/61fb47a9fe81.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 breakdown volume bar.
Profit Potential:
More than 120 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
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