USDCAD SHORT on Order Flow - Follow the smart money!
Strong Bearish Signal:
The pair demonstrated a huge drop supported by the increased volume, which means that institutional players pushed the price down. Moreover, it's a good signal the downtrend will continue.
Volume Zones:
Besides it, we need to allocate the new volume level of resistance 1.3161.
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://a.radikal.ru/a37/1906/4e/c7be8accf749.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 pair demonstrated a huge drop supported by the increased volume, which means that institutional players pushed the price down. Moreover, it's a good signal the downtrend will continue.
Volume Zones:
Besides it, we need to allocate the new volume level of resistance 1.3161.
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://a.radikal.ru/a37/1906/4e/c7be8accf749.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 -
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