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Trade Against The 90% That Lose Money 17th Nov
Retail traders are notoriously wrong at picking market direction/tops and bottoms. Most retail traders very naturally seem to adopt a counter-trend stance and this offers very accurate signals for individuals looking to trade against this group. This daily report is designed to help traders focus their efforts on higher probability pairs.
So what are the signals?
Strong Short 66% Retail Longs
Short 60% Retail Longs
Long 60% Retail Shorts
Strong Long 66% Retail Shorts
We are looking for 60%+ (Ideally for best opportunities 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 Strong Short and Strong Long areas.
What’s New Today? Most currencies are currently in the neutral zone. Although we have seen softening in their positions USDJPY, USDCHF and USDCAD remain in the strong short zone.
Provided by Pivotfarm - To learn about Technical Confluence click here
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Short the USDJPY today with a downside target of 81.93. At that level, get long to ~ 86. Stick a robot on it! :D
Watch for the bounce of the AUDUSD off resistance @ 99.
Bling!
Now, that's contrarian!
Dear Baby Pips, I lost all my money trading with PivotFarm.
What should I do?
What a brainless system!