GBPUSD SHORT on Order Flow - Follow the smart money!
Strong Bearish Signal:
The price demonstrated a sharp fall supported by large institutional volume and totally absorbed the recent keen surge. Now the price is testing the level of support.
Volume Zones:
It is necessary to point out the level of support/lower limit of the local range 1.2995, which contains an increased volume.
Sentiment:
This indicator shows that 72% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c17/1905/06/fbef86ab67e6.png
Consider Short Positions:
Given all these factors, we may regard a scenario of the breakdown of the support, which will be a great bearish signal. The drop must be abrupt and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
Approximately 100-110 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 demonstrated a sharp fall supported by large institutional volume and totally absorbed the recent keen surge. Now the price is testing the level of support.
Volume Zones:
It is necessary to point out the level of support/lower limit of the local range 1.2995, which contains an increased volume.
Sentiment:
This indicator shows that 72% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c17/1905/06/fbef86ab67e6.png
Consider Short Positions:
Given all these factors, we may regard a scenario of the breakdown of the support, which will be a great bearish signal. The drop must be abrupt and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
Approximately 100-110 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
