Disliked{quote} Good day to you, GM I follow retail stops through one of the larger brokers in Europe. It does give a little guidance as to general sentiment. We are currently sitting with massive retail short positions still active. Below a snapshot of where those stops are placed. Now - obviously - these change as traders exit or TP - but we have thousands of stops sitting between 1.6210 and 1.6270, whilst very little is going on below price in terms of long stops. This is not good for bears - in my opinion. On the book, there are over 21'000 shorts stops...Ignored
Interesting piece of data.
Initial market reaction also confirms existence of quite a few stops having been triggered above 1.6178.
Those stop orders on the book reflects the setup we see on the daily chart, i.e. consolidation after a rally; understandably long stops would be much lower below where the run-up started and a lot more densely packed short stops just above the range (i.e. higher breakout risk).
Hear the music before the song is over ...