Strong Sell - Posted a private chart Monday Morning as an experiment on Commitment of Traders Report, Played out according to the plan and COT bias.
We all know USD is very strong at the moment asJobs Numbers keep improving whether they continue or not ?, takes a bit of digging into to find out.
But at the moment there is a heavy bias Long on the USD by Non-Comercial Traders the ones we should take notice of, apparently looks that way so far.
Since Monday morning AUDUSD has moved 177 pips.
I think even just looking at the clean bars to the left without the massive bias it has another 120 to run, which coincides with the average short trade on sentiment.
Long Sentiment is 89% and has been constant all week.
RSI is 32 so oversold but not massive yet
Short 11% ? figure that one out, what they are doing is anticipating the return trend, counter-trend traders trying to pick the bottom.
Don't forget to set Break-Even, take some off the table as you go should the trade play out.
Does it look Bearish to you ?
Lets See
We all know USD is very strong at the moment asJobs Numbers keep improving whether they continue or not ?, takes a bit of digging into to find out.
But at the moment there is a heavy bias Long on the USD by Non-Comercial Traders the ones we should take notice of, apparently looks that way so far.
Since Monday morning AUDUSD has moved 177 pips.
I think even just looking at the clean bars to the left without the massive bias it has another 120 to run, which coincides with the average short trade on sentiment.
Long Sentiment is 89% and has been constant all week.
RSI is 32 so oversold but not massive yet
Short 11% ? figure that one out, what they are doing is anticipating the return trend, counter-trend traders trying to pick the bottom.
Don't forget to set Break-Even, take some off the table as you go should the trade play out.
Does it look Bearish to you ?
Lets See
Trade closed manually:
Break Even