USDCAD LONG on Order Flow - Follow the smart money!
Strong Bullish Signal:
The pair went on rising yesterday. The movement was keen and supported by the large volume. Moreover, the huge positive delta during the growth means the buyers are prevailing the market.
Volume Zones:
It's necessary to point out the new level of support 1.3253 - 1.3268, which contains the large volume.
Sentiment:
This indicator shows that 91% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c41/1911/3c/411310152484.png
Consider Long Positions:
Given all these factors, we may give advantage to long positions. We may enter the market after a smooth downward correction of the price, in order to get a better entry point. A stop loss should be placed below the support level.
Profit Potential:
Around 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 pair went on rising yesterday. The movement was keen and supported by the large volume. Moreover, the huge positive delta during the growth means the buyers are prevailing the market.
Volume Zones:
It's necessary to point out the new level of support 1.3253 - 1.3268, which contains the large volume.
Sentiment:
This indicator shows that 91% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c41/1911/3c/411310152484.png
Consider Long Positions:
Given all these factors, we may give advantage to long positions. We may enter the market after a smooth downward correction of the price, in order to get a better entry point. A stop loss should be placed below the support level.
Profit Potential:
Around 100 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
