XAUUSD LONG on Order Flow - Follow the smart money!
Strong Bullish Signal:
The price resumed rising after the appearance of the large volume. Moreover, the previous sharp downward correction has been swallowed, which shows a weakness of sellers.
Volume Zones:
We need to highlight an important level of resistance 1799.00, which contains the large volume.
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will allow us to contemplate purchases. The rise must be sharp and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
Around 300 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 resumed rising after the appearance of the large volume. Moreover, the previous sharp downward correction has been swallowed, which shows a weakness of sellers.
Volume Zones:
We need to highlight an important level of resistance 1799.00, which contains the large volume.
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will allow us to contemplate purchases. The rise must be sharp and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
Around 300 points.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.