I'am expecting the continuation of the bullish trend so i am waiting on opportunity to enter the market. I'am using pure price action in combination with custom made trading tool so execution of the trade is highly accurate.
Never Chase the Trade
Contrarian view:
Retail trader data shows 49.9% of traders are net-long with the ratio of traders short to long at 1.0 to 1. The number of traders net-long is 2.8% lower than yesterday and 2.8% higher from last week, while the number of traders net-short is 4.3% higher than yesterday and 4.0% higher from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests USDJPY prices may continue to rise. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USDJPY-bullish contrarian trading bias.
Never Chase the Trade
Contrarian view:
Retail trader data shows 49.9% of traders are net-long with the ratio of traders short to long at 1.0 to 1. The number of traders net-long is 2.8% lower than yesterday and 2.8% higher from last week, while the number of traders net-short is 4.3% higher than yesterday and 4.0% higher from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests USDJPY prices may continue to rise. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USDJPY-bullish contrarian trading bias.
Trade closed: target reached