USDWTI SHORT on Order Flow - Follow the smart money!
Strong Bearish Signal:
The price resumed a confident fall and now is testing the lower limit of the local consolidation. Besides it, the current global situation puts a pressure on the price.
Volume Zones:
We need to allocate the level of support/local minimum 21.60, which is being tested now.
Sentiment:
This indicator shows that 72% retails traders are in short positions, which contradicts our trading scenario (trading against the "crowd"). However, we need to monitor this indicator, especially in case of the breakdown of the support level.
https://d.radikal.ru/d31/2003/b6/4c076ee831cb.png
Consider Short Positions:
Given all these factors, we may reckon a scenario of the breakdown of the support level, which will be a great bearish signal. The sink must be keen and supported by the large volume, which will be a more precise signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 300 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 resumed a confident fall and now is testing the lower limit of the local consolidation. Besides it, the current global situation puts a pressure on the price.
Volume Zones:
We need to allocate the level of support/local minimum 21.60, which is being tested now.
Sentiment:
This indicator shows that 72% retails traders are in short positions, which contradicts our trading scenario (trading against the "crowd"). However, we need to monitor this indicator, especially in case of the breakdown of the support level.
https://d.radikal.ru/d31/2003/b6/4c076ee831cb.png
Consider Short Positions:
Given all these factors, we may reckon a scenario of the breakdown of the support level, which will be a great bearish signal. The sink must be keen and supported by the large volume, which will be a more precise signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 300 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
