USDWTI SHORT on Order Flow - Follow the smart money!
Strong Bearish Signal:
The price tested the level of support, but could not break it down. Nevertheless, the price is still located near this level and given the recent sharp drop on the large volume (power of sellers), we still should prefer a scenario of opening short positions.
Volume Zones:
Our previous level of support 57.70 is still actula, moreover, this mark contains the large volume, which increases its importance.
Sentiment:
This indicator shows that 82% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c07/1905/f3/43b0a417d321.png
Consider Short Positions:
Given all these factors, we may consider a scenario of the breakdown of the support level, which will allow us to open short positions. The drop must be abrupt and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 150 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 tested the level of support, but could not break it down. Nevertheless, the price is still located near this level and given the recent sharp drop on the large volume (power of sellers), we still should prefer a scenario of opening short positions.
Volume Zones:
Our previous level of support 57.70 is still actula, moreover, this mark contains the large volume, which increases its importance.
Sentiment:
This indicator shows that 82% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://c.radikal.ru/c07/1905/f3/43b0a417d321.png
Consider Short Positions:
Given all these factors, we may consider a scenario of the breakdown of the support level, which will allow us to open short positions. The drop must be abrupt and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 150 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
