TRAP FOR POOR RETAIL TRADERS on AUDNZD
Price has approached the top of a very visible parallel channel as well as a resistance area.
It's dangerous to trade short as big banks, hedge fund, institutions will have the opportunity of a big amount of liquidity that they will use to fill their orders. Basically they might drive the price higher with big capitals, and hit all retail trader's stops.
Be carefull.
It's dangerous to trade short as big banks, hedge fund, institutions will have the opportunity of a big amount of liquidity that they will use to fill their orders. Basically they might drive the price higher with big capitals, and hit all retail trader's stops.
Be carefull.
Comment:
As you see, what happened is that the "Smart Money" reminded once again the poor retail traders who is boss in the market. They drove the price up, hitting the "Dumb Money"' stops 8 days later.