dojitrader
Short

Looking Like A Crowed Trade . . .

FX:AUDUSD   Australian Dollar / U.S. Dollar
68 2 1
BUT, here's another reason to go short.
Yet, 2 things keep me uneasy with this .9200 area
Retail traders, including lots of posts for short positions
on TView, are already short. Sites where retail traders
report their positions have proven rather good contrary
indicators in the recent 6/12 months and Aussie tops the list.
http://www.forexfactory.com/trades.php#tradesPositions
Additionally, RSI is just barely showing divergence.
It would not surprise me if the Aussie came up just slightly
short of entry targets-backed off 20 pips and then Blasted
Through the .9200. Squeezed out all the shorts and then
started dropping like a rock
(Or it could just correct higher)
Let the test begin ~~~~~~~~
Although not quite as I had anticipated, it looks like the short squeeze is ON.
Standing aside, for now, on both AudUsd and AusCad until the storm calms
and the clouds clear enough to see what's actually going on.
Reply
absolutely agree with you... trap is on... now question will be... how deep will be the correction...
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