USDCAD LONG on Order Flow - Follow the smart money!
Strong Bullish Signal:
The price continued rising, moreover, the move was on the increased volume, which shows that the smart money pushed the pair up. Besides it, there is a strong uptrend, which is a great bullish signal.
Volume Zones:
We need to point out an important level of support 1.2795, which contains the large volume.
Sentiment:
This indicator shows that 84% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a39/2112/a5/8c2200561931.png
Consider Long Positions:
Given all these factors, we should regard long positions after a smooth downward correction of the price. It will provide us with a better entry point. A stop loss may be placed below the new support level.
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 continued rising, moreover, the move was on the increased volume, which shows that the smart money pushed the pair up. Besides it, there is a strong uptrend, which is a great bullish signal.
Volume Zones:
We need to point out an important level of support 1.2795, which contains the large volume.
Sentiment:
This indicator shows that 84% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a39/2112/a5/8c2200561931.png
Consider Long Positions:
Given all these factors, we should regard long positions after a smooth downward correction of the price. It will provide us with a better entry point. A stop loss may be placed below the new support level.
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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