USDCAD LONG on Order Flow - Follow the smart money!
Strong Bullish Signal:
The price showed a sharp and confident growth supported by the large volume and is currently trading near the resistance level. Besides it, we should point out that the large positive delta means that buyers were dominating the market.
Volume Zones:
It is necessary to allocate the level of resistance 1.3333.
Sentiment:
This indicator shows that 87% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c42/1908/67/d120458cad29.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 100 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 a sharp and confident growth supported by the large volume and is currently trading near the resistance level. Besides it, we should point out that the large positive delta means that buyers were dominating the market.
Volume Zones:
It is necessary to allocate the level of resistance 1.3333.
Sentiment:
This indicator shows that 87% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c42/1908/67/d120458cad29.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 100 pips.
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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