USDCAD SHORT on Order Flow - Follow the smart money!
Strong Bearish Signal:
The price continued falling, moreover, the movement was confident and sharp, which is a good sign for the continuation of the downtrend.
Volume Zones:
We need to allocated the new level of resistance 1.3143, which contains the large volume.
Sentiment:
This indicator shows that 96% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d21/1910/20/ed53b88d4ce7.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
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 falling, moreover, the movement was confident and sharp, which is a good sign for the continuation of the downtrend.
Volume Zones:
We need to allocated the new level of resistance 1.3143, which contains the large volume.
Sentiment:
This indicator shows that 96% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d21/1910/20/ed53b88d4ce7.png
Consider Short Positions:
Given all these factors, we should consider exceptionally short positions. We can enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss may be placed above the new resistance.
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 -
