Hi Traders, thank you for watching this COT video analysis. Hope this helps you understand the background behind price movement.
Initial analysis: As we can see the banks are bearish on the CA and bullish on the JPY, I expect it to drop soon, but first I want to see the manipulation.
FX Hunter Strategy is based on mainly watching the big picture of overall world economy and dividing the FX pairs in to couple baskets.Following the volume of big players ( COT by CFTC) and tick volume helps to see what the market movers are doing. Parallel channels, Supply / Demand and Market Profile are used to determine levels of interest for the trading. Slight usage of Elliot waves for the market structure.
Hi Dave, if you expect the price to bounce back up again why not closing your short position now and re-enter again when its comes to your indicated level.
I know potentially it may go down as well but if you believe thats the case my logic says close the positions and save your profit.
I know potentially it may go down as well but if you believe thats the case my logic says close the positions and save your profit.