Trade Against The 90% That Lose Money 9th 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? EURJPY has strengthened its position in the short zone and is edging closer to the Short zone. EURGBP has today edged its way into the Long zone, the GBPJPY has made a large move into the neutral zone.

Provided by Pivotfarm - The Home of Support and Resistance Trading

Comments

[VeloSpade]

Dear Mr. PivotFarm,

What data are you using for your short interest calculations?  Just curious since FX is not centrally cleared like other exchanges, so where can you get reliable short interest numbers in real time? 

BTW, nice looking indicator.  If I can access the same SI info you are using through my data feeds I could very easily replicate your indicator to work in real time on TradeStation , MetaTrader, and other platforms.  Would be willing to share if interested.

[Pivotfarm]

Hi Velo The data is collected from a variety of brokers and we then create an average.

If developing indicators is your thing, please drop me an email [e-mail]