USDCAD LONG on Order Flow - Follow the smart money!
Strong Bullish Signal: The price continued rising, moreover, the move was on the increased volume, which shows that the smart money pushed the pair up. Besides it, there is a strong uptrend, which is a great bullish signal. Volume Zones: We need to point out an important level of support 1.2795, which contains the large volume. Sentiment: This indicator shows that 84% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd"). https://a.radikal.ru/a39/2112/a5/8c2200561931.png Consider Long Positions: Given all these factors, we should regard long positions after a smooth downward correction of the price. It will provide us with a better entry point. A stop loss may be placed below the new support level. Profit Potential: More than 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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