XAGUSD LONG on Order Flow - Follow the smart money!
Strong Bullish Signal: The price resumed rising and totally swallowed the previous downward correction, which shows a weakness of sellers. Moreover, the move was supported by the large volume, which means that the smart money pushed the price up. Volume Zones: We need to point out an important level of resistance 24.68 - 24.79, which contains the large volume. Sentiment: This indicator shows that 73% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd"). https://b.radikal.ru/b12/2111/9a/64ebcbe4cc05.png Consider Long Positions: Given all these factors, we may regard a resistance level breakout, which will be a great bullish signal. The rise 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 150 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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