AUDUSD LONG on Order Flow - Follow the smart money!
Strong Bullish Signal:
The price demonstrated an abrupt and sharp growth supported by the large volume, which shows that the smart money pushed the price up. Moreover, the large positive delta during the surge implies that buyers are prevailing the market now.
Volume Zones:
It is necessary to allocate the new support level 0.7710, which has been already tested and the price resumed rising after it.
Sentiment:
This indicator shows that 83% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d26/2104/f2/03f452d39db1.png
Consider Long Positions:
Given all these factors, we may ponder long positions after a smooth downward correction, in order to obtain a better entry point. A stop loss may be placed below the new support level.
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 demonstrated an abrupt and sharp growth supported by the large volume, which shows that the smart money pushed the price up. Moreover, the large positive delta during the surge implies that buyers are prevailing the market now.
Volume Zones:
It is necessary to allocate the new support level 0.7710, which has been already tested and the price resumed rising after it.
Sentiment:
This indicator shows that 83% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d26/2104/f2/03f452d39db1.png
Consider Long Positions:
Given all these factors, we may ponder long positions after a smooth downward correction, in order to obtain a better entry point. A stop loss may be placed below the new support level.
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 -
