Hello,
I've started this thread to share ideas about trading market sentiment.
The theory behind it goes something like this: The big money moves the markets. The big money needs others to take the other side of its trades. The market will therefore do whatever it takes to dupe the majority of retail FX (amongst others) into taking the other side of the big moneys trades. You can read more about my theory here: http://www.myforexdot.org.uk/whyretailforexiswrong.html
I exited a long position based on sentiment at the end of last week after going long on the EUR/USD over a month ago, another poster on Forex Factory called 'Mr. D' also followed the trend up and made 600 pips. The trading thread is here http://www.forexfactory.com/showthread.php?t=257177 where you can follow our journals.
Anyway, according to OandA retail sentiment is definately long EUR/USD http://fxtrade.oanda.com/analysis/open-position-ratios
Trade is short EUR/USD @ 1.3809
I've started this thread to share ideas about trading market sentiment.
The theory behind it goes something like this: The big money moves the markets. The big money needs others to take the other side of its trades. The market will therefore do whatever it takes to dupe the majority of retail FX (amongst others) into taking the other side of the big moneys trades. You can read more about my theory here: http://www.myforexdot.org.uk/whyretailforexiswrong.html
I exited a long position based on sentiment at the end of last week after going long on the EUR/USD over a month ago, another poster on Forex Factory called 'Mr. D' also followed the trend up and made 600 pips. The trading thread is here http://www.forexfactory.com/showthread.php?t=257177 where you can follow our journals.
Anyway, according to OandA retail sentiment is definately long EUR/USD http://fxtrade.oanda.com/analysis/open-position-ratios
Trade is short EUR/USD @ 1.3809