XAU/USD LONG on Order Flow - Follow the smart money!
Strong Bullish Signal:
The pair demonstrated a keen growth and tested the level of resistance. The price did not break it out, but is still trading near it. The absence of the sharp rebound shows the weakness of sellers.
Volume Zones:
We need to highlight an important level of resistance/local maximum 1811.50. The price is testing this mark at the moment.
Consider Long Positions:
Given all these factors, we may ponder a scenario of the breakout of the resistance, which will be a great bullish signal. The rise 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:
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 pair demonstrated a keen growth and tested the level of resistance. The price did not break it out, but is still trading near it. The absence of the sharp rebound shows the weakness of sellers.
Volume Zones:
We need to highlight an important level of resistance/local maximum 1811.50. The price is testing this mark at the moment.
Consider Long Positions:
Given all these factors, we may ponder a scenario of the breakout of the resistance, which will be a great bullish signal. The rise 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:
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 -
