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Daily FX Retail Trader Contrarian Analysis 5th Oct
This daily report is designed to help traders find opportunities to trade against this group. The premise is very simple we are looking for 66% of retail traders to be trading either long or short a currency pair, we then look for opportunities to fade (trade against) this group. For example if 72.99% of traders are long the USD/CHF we look for opportunities to short that pair.
The pairs that we feel offer the highest opportunity for success are described in the Shortand Long Zones.
What’s New Today? The USD/CHF and USD/JPY remain in the short zone.
Provided by Pivotfarm - The Home of Support and Resistance Trading
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i wish i could be a trader. i would rather be a trader than a broker. trader is cool, broker not so much. their broke. brokeback mountain men. who would want to go into a profession and have to call yourself a broker. i broke her. condom use up in teenagers.
lol. I broke her. I like that. Wanna be my ZH girlfriend so I can say that about you? =)
I hate crowded trades. This report may help spot some. But the retail trade numbers here represent a small fraction of the FX market. If the Russian, Indian, Saudi, Singapore (etal) central banks woke up and any one of them said. "I will sell $50b for CHF or JPY today" it would overwhelm any positioning activity by retail traders.
The USDCHF hit yet another all time low this AM. I think what japan did last night was a joke. I think USDJPY breaks 83 this week.
The AUDUSD directly conflicts with the fx futures data from the COT. Large Spec is net long 8:1, and % short of the OI is less than 9%. I'll short the aud contrary to your study.
The trend is your friend.
And I will buy the AUD/USD contrary to your thinking and the simple fact that AUD is a commodity currency and the fact that no interest rate hike has already pushed the AUD down and now it's where it was before the announcement and it is showing strong momentum to the upside.
You're gonna lose this one buddy.
The UJ trade is quite a nice one, short into the BoJ wall at 82.20-82 then go long at the end of the day and wait for the BoJ pump. Repeat the next morning.