USDJPY LONG on Order Flow - Follow the smart money!
Strong Bullish Signal:
The price demonstrated an abrupt and confident surge and totally swallowed the recent sharp drop. Moreover, the rise was supported by the large volume, which implies that the smart money turned the market up.
Volume Zones:
It's necessary to point out the resistance level 108.59, which is being tested now.
Sentiment:
This indicator shows that 63% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c01/2001/2c/41bb23257adb.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a great bullish signal. The growth must be sharp and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed below the breakout volume bar.
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 price demonstrated an abrupt and confident surge and totally swallowed the recent sharp drop. Moreover, the rise was supported by the large volume, which implies that the smart money turned the market up.
Volume Zones:
It's necessary to point out the resistance level 108.59, which is being tested now.
Sentiment:
This indicator shows that 63% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c01/2001/2c/41bb23257adb.png
Consider Long Positions:
Given all these factors, we may regard a scenario of the breakout of the resistance, which will be a great bullish signal. The growth must be sharp and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed below the breakout volume bar.
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 -
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