XAUUSD LONG on Order Flow - Follow the smart money!
Strong Bullish Signal:
The price resumed rising and totally absorbed the previous downward correction, which shows the weakness of sellers. Moreover, there is a strong uptrend, which is also a great bullish signal.
Volume Zones:
We need to point out an important level of resistance/global maximum 2049.50 - 2054.70. The price is testing it at the moment.
Sentiment:
This indicator shows that 56% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a04/2008/fc/2ce5ad6e9a47.png
Consider Long Positions:
Given all these factors, we may reckon a scenario of the breakout of the resistance, which will be a great bullish signal. The surge must be abrupt and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 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 and totally absorbed the previous downward correction, which shows the weakness of sellers. Moreover, there is a strong uptrend, which is also a great bullish signal.
Volume Zones:
We need to point out an important level of resistance/global maximum 2049.50 - 2054.70. The price is testing it at the moment.
Sentiment:
This indicator shows that 56% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a04/2008/fc/2ce5ad6e9a47.png
Consider Long Positions:
Given all these factors, we may reckon a scenario of the breakout of the resistance, which will be a great bullish signal. The surge must be abrupt and supported by the large volume, which will be a more secure signal for entering the market. A stop loss may be placed below the breakout volume bar.
Profit Potential:
More than 300 points.
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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