Discussion in 'Forex Trading' started by ASusilovic, Jan 5, 2012.
About time for a short covering massacre...
yeah, you were saying the same 400 pips higher.
trade against the trend without the stoploss mentality.
Is there any better site for this data? I can't read pdfs. I can't read anything but charts.
This data is probably more predictive. These firms print money by taking the other side of customer trades.
As of last week (the new data is coming out today) the wrong-way traders were slightly bullish on the Euro, not really confirming the CFTC data.
He's been singing that tune for a long while now.
You were bullish e/u at 1.42. It turned down, and never went back.
Now you become bearish, more than 1420 pips lower.
E/U at 1.2780. Hindsighters are becoming bearish.
Is smart money around the corner?
I am no longer short 6E and started buying 1.2795 today from a system signal - not a long term swing trade but a 24 to 72 hour trade - looking for at least 100 ticks.
Just a note - 6E open interest ratio went extreme out of balance today when 6E traded to 1.2800 level - too many shorts holding and exteremly minimal longs.
position cost basis 1.2784 for the day in 6E - covers at 1.2835 - covers at 1.2885
continuing to buy 6E tonight - cost basis at 1.2780 from churning positions in range making some small profits - covers adjusted to 1.2830 - covers adjusted to 1.2880 - above 1.2880 I will hold 2 contracts for manual cover.
covered partial at 1.2816 so I can go to bed - employment numbers in morning and I need to be up for that - adjusted higher covers to 1.2894 - hold last 2 contracts for manual cover above 1.2900 handle.
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