On Friday, price opened the day at 0.9150. It closed the day at 0.9095 - a 55 pip drop, significant for a pair as docile as the AUDCAD.
Retail trade was positioned 66% long on the pair at Fridays open. And by market open today, that number had jumped to a whopping 78%.
When Retail Rick is positioned one way, I'm really keen on taking the other side.
A quick switch to the weekly chart shows what the retail crowd is betting in - its betting on this currently level holding.
But why should it? Because it has in the past?
Or maybe it must bounce because price has been in a downtrend for so long, it just "has to" go up, right?
Nope.
I will be looking to short this pair in the coming weeks, down to about 0.8700 (and beyond if it keeps going)
Retail trade was positioned 66% long on the pair at Fridays open. And by market open today, that number had jumped to a whopping 78%.
When Retail Rick is positioned one way, I'm really keen on taking the other side.
A quick switch to the weekly chart shows what the retail crowd is betting in - its betting on this currently level holding.
But why should it? Because it has in the past?
Or maybe it must bounce because price has been in a downtrend for so long, it just "has to" go up, right?
Nope.
I will be looking to short this pair in the coming weeks, down to about 0.8700 (and beyond if it keeps going)
İşlem kapandı: hedefe ulaştı
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.