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  • #1,193,621
  • May 3, 2021 7:48am May 3, 2021 7:48am
Quoting EvilEye
Let's hope nobody's really shorted this.
I am shorting it.
Learn from your mistakes and march on.
  • #1,193,622
  • May 3, 2021 7:48am May 3, 2021 7:48am
Quoting helioss
RETAIL are closing LONG POSITIONS {image}
Herd is still long.

https://www.myfxbook.com/community/outlook

And they will add longs until 1800 or lower, where it might turn.
Everyone can see the chart, but only a few can actually read it.
  • #1,193,623
  • May 3, 2021 7:53am May 3, 2021 7:53am
On dailyfx, sentiment shows that 60% are short and 40% are long. Indication that institutions will trap the sellers and push this higher. EURUSD bullish.
  • #1,193,624
  • May 3, 2021 8:03am May 3, 2021 8:03am
Quoting Techanalyst
On dailyfx, sentiment shows that 60% are short and 40% are long. Indication that institutions will trap the sellers and push this higher. EURUSD bullish.
It doesn't always play out like that.

If this is a bear trap, then I am willing to accept that. Nobody wins all the time. But if it isn't, I don't want to be the one kicking myself for doubting myself. The chart appears be telling me there is going to be further bearish activity before EURUSD becomes strong bullish again. Even the DXY chart is showing USD strength on the Daily.
Learn from your mistakes and march on.
  • #1,193,625
  • May 3, 2021 8:03am May 3, 2021 8:03am
Quoting Techanalyst
On dailyfx, sentiment shows that 60% are short and 40% are long. Indication that institutions will trap the sellers and push this higher. EURUSD bullish.
DAilyFX has only IG Clients.....MyfxBook has much more accounts so market view is more complete.
  • #1,193,626
  • May 3, 2021 8:04am May 3, 2021 8:04am
Myfxbook has the best data, as its based on the most money, spread among all brokers. They are showing 31k lots shorts, 36k lots long.
Everyone can see the chart, but only a few can actually read it.
  • #1,193,627
  • May 3, 2021 8:06am May 3, 2021 8:06am
This run up will continue. This is just temporary institutions taking some profits, but EURUSD is bullish, and more buys are added by institutions. EURUSD bullish.
  • #1,193,628
  • May 3, 2021 8:11am May 3, 2021 8:11am
It looks like it. The support at 1.2025 held. That pullback was temporary, it seems.
  • #1,193,629
  • May 3, 2021 8:12am May 3, 2021 8:12am
Quoting helioss
{quote} DAilyFX has only IG Clients.....MyfxBook has much more accounts so market view is more complete.
FXSSI has all the major ones and averages them out.

Attached Image (click to enlarge)
Click to Enlarge Name: FXSSI.png Size: 99 KB
Learn from your mistakes and march on.
  • #1,193,630
  • May 3, 2021 8:17am May 3, 2021 8:17am
Quoting here2there
{quote} FXSSI has all the major ones and averages them out. {image}
If they average just the %, it is useless...as for example FF is meaningless with less than 240 lots in total for EURUSD atm, while Myfxbook has data for 67,000+ lots.
Everyone can see the chart, but only a few can actually read it.
  • #1,193,631
  • May 3, 2021 8:21am May 3, 2021 8:21am
Quoting OnlineAddict
{quote} If they average just the %, it is useless...as for example FF is meaningless with less than 240 lots in total for EURUSD atm, while Myfxbook has data for 67,000+ lots.
I'm not sure how they do it, but it's usually accurate.
Learn from your mistakes and march on.
  • #1,193,632
  • May 3, 2021 8:28am May 3, 2021 8:28am
Quoting here2there
{quote} I'm not sure how they do it, but it's usually accurate.
Correct, daily fx sentiment is actually very accurate and works most of the time. It's another very useful and good tool.
  • #1,193,633
  • May 3, 2021 9:10am May 3, 2021 9:10am
Quoting Techanalyst
{quote} Correct, daily fx sentiment is actually very accurate and works most of the time. It's another very useful and good tool.
If you end up being right about EURUSD being bullish and this turns out to be a bear trap, then I will accept COT.
Learn from your mistakes and march on.
  • #1,193,634
  • May 3, 2021 9:13am May 3, 2021 9:13am
Quoting Theoak
Long in at 1.2056 {image}
+12 pips
Stop loss to BE
Run the rest
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2021-05-03 132959.png Size: 35 KB
Don't trade what you think. Just what you see!!!
  • #1,193,635
  • May 3, 2021 9:19am May 3, 2021 9:19am
Quoting here2there
{quote} If you end up being right about EURUSD being bullish and this turns out to be a bear trap, then I will accept COT.
day pivot
  • #1,193,636
  • May 3, 2021 9:32am May 3, 2021 9:32am
Quoting here2there
{quote} If you end up being right about EURUSD being bullish and this turns out to be a bear trap, then I will accept COT.
Signals are everywhere that EURUSD will continue to go up. The down move was institutions taking off some of the profits. So M30, 4HR and daily are signal that it is bullish market. You say that you trade on daily same with me, same with institutions they like to look at the daily chart. Because it is a very good time frame to see where market is going. You can actually time it and open up a position and see if you can leave it for a month or longer. Now that you claim that you take your time to enter a trade, that is good, very good strategy... now what I am not getting it is, what made you take the short position, which there is absolutely no signal or anything on a daily chart that points out to take the short position? Take a look at the weekly, to the left the 2020 year area, where price was consolidating, and that area was touched in March.2021, and it is up from there. Now why did you go short?

If you are also using indicators as tools, take a look at the chart everything is pointing up, the sentiment majority are short so that means you do opposite, the macro economics, the COT reports, everything points to the upside and you go short why?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 35 KB
Click to Enlarge Name: EURUSDH4.png Size: 39 KB
Click to Enlarge Name: EURUSDdaily.png Size: 40 KB
Click to Enlarge Name: EURUSDWeekly.png Size: 40 KB
Click to Enlarge Name: EURUSDDaily(2).png Size: 70 KB
  • #1,193,637
  • May 3, 2021 9:45am May 3, 2021 9:45am
In regards to knowing sentiment position of retail traders, I look for LOTS size. NOT traders position percentage.
Only an idiot knows with certainty to where the market is going.
  • #1,193,638
  • May 3, 2021 9:48am May 3, 2021 9:48am
Quoting Techanalyst
{quote} Signals are everywhere that EURUSD will continue to go up. The down move was institutions taking off some of the profits. So M30, 4HR and daily are signal that it is bullish market. You say that you trade on daily same with me, same with institutions they like to look at the daily chart. Because it is a very good time frame to see where market is going. You can actually time it and open up a position and see if you can leave it for a month or longer. Now that you claim that you take your time to enter a trade, that is good, very good strategy......
I went short because of the following candle formation on the Daily, which appears to suggest there is going to be a deeper retracement before bulls take control of EURUSD again. Perhaps I am wrong and it's just a trap.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.png Size: 47 KB
Learn from your mistakes and march on.
  • #1,193,639
  • May 3, 2021 9:51am May 3, 2021 9:51am
Quoting here2there
{quote} I went short because of the following candle formation on the Daily, which appears to suggest there is going to be a deeper retracement before bulls take control of EURUSD again. Perhaps I am wrong and it's just a trap. {image}
Do you see and understand now, just looking at the charts alone, can trick you and go the opposite way...
  • #1,193,640
  • May 3, 2021 9:51am May 3, 2021 9:51am
Quoting Theoak
{quote} +12 pips Stop loss to BE Run the rest {image}
Run it baby; Run IT!!!!
Don't trade what you think. Just what you see!!!
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