USDCAD SHORT on Order Flow - Follow the smart money!
Strong Bearish Signal:
The price showed a sharp sink supported by the large institutional volume last week. It means that the smart money shoved the pair down.
Volume Zones:
It is necessary to point out the new resistance level 1.3330, which contains the large volume and has already been tested by the pair.
Sentiment:
This indicator shows that 67% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c08/2010/f5/c4f2a1164ba0.png
Consider Short Positions:
Given all these factors, we should ponder exceptionally short positions. We may enter the market after a slight upward correction, in order to get a more profitable entry point. A stop loss may be placed above the beginning of the keen drop of the price.
Profit Potential:
More than 150 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 showed a sharp sink supported by the large institutional volume last week. It means that the smart money shoved the pair down.
Volume Zones:
It is necessary to point out the new resistance level 1.3330, which contains the large volume and has already been tested by the pair.
Sentiment:
This indicator shows that 67% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c08/2010/f5/c4f2a1164ba0.png
Consider Short Positions:
Given all these factors, we should ponder exceptionally short positions. We may enter the market after a slight upward correction, in order to get a more profitable entry point. A stop loss may be placed above the beginning of the keen drop of the price.
Profit Potential:
More than 150 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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