Owner: JohnLast
Group members: 6
Here in this group I would like to share my experience with the use of the Opanda order's book information.
This information may enhance your technical analysis studies. It may be very useful combined with VSA (Volume Spread Analysis). The most important pattern is the cycle between accumulation of open orders orders and the distribution between retailers and market makers.
As you look at this chart and as you make simple technical analysis it looks like the crowd is against one of the strongest technical analysis signals.
This can be seen easily on this shot. In the technical analysis there is seldom a more powerfull signal than a break - out in the direction of an established trend. And still the human crow is bearish.
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От technical outllok |
You can compare with the screen shots of the previous post that still there is no big change from the positioning of the crowd.
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От technical outllok |
You can see that the Long - Shorton ratio is highly inconsistent with the actual correlations between main currency pairs.
For example:
EUR/USD 67 % are Short and 32.8 % are Long
GBP/USD 61.55 are Long and 38.4 % are Short
However between those pairs EUR/USD and GBP/USD is a very strong historical correlation:
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От technical outllok |
It looks like a lot of human traders existed their long EUR/USD during the last week correction.
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От technical outllok |
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