GBPUSD LONG on Order Flow - Follow the smart money!
Strong Bullish Signal:
The Pound demonstrated an abrupt and sharp growth supported by the large volume and positive delta. Moreover, the pair has already broke out the previous resistance level . All these factors show the strength of buyers at the moment.
Volume Zones:
The volume was evenly spread throughout the chart, hence, we can't allocate any new levels or zones.
Sentiment:
This indicator shows that 75% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://d.radikal.ru/d32/2006/...
Consider Long Positions:
Given all these factors, we should prefer a scenario of opening long positions. We may enter the market after a smooth downward correction, in order to get a better entry point. A stop loss should be placed below a sharp bullish momentum.
Profit Potential:
More than 130 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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