Hi guys,
Looks like we are in consolidation/take profit phase.
Very possible long to 1.08-1.09, depends on many political and financial data...
Some longs are added for the last few weeks by institutions and very strong retail short bias for this pair.
I think we will be still consolidating for some period of time since most of the short positions opened by institutions are not closed yet and later on we may have some rally to 1.08-1.09.
Good luck.
Looks like we are in consolidation/take profit phase.
Very possible long to 1.08-1.09, depends on many political and financial data...
Some longs are added for the last few weeks by institutions and very strong retail short bias for this pair.
I think we will be still consolidating for some period of time since most of the short positions opened by institutions are not closed yet and later on we may have some rally to 1.08-1.09.
Good luck.
Trade active:
One more leg of consolidation/take profit occurred. I have opened 3 long positions at: 1.052, 1.057 and 1.062. Planning to open one more at 1.067 along with one short at the same price. If we break out from 1.07, would consider to follow the trend and adding some more long positions.
Trade active:
Closed mentioned long positions. Opened one more at 1.0665 along with same price short. Expecting more continuation upside, but need to hedge since we are at the top of the current range. Planning pick up more longs either way if we go down or up.
0.93% move upwards is a big move for 1 day, I think one more leg down is quite possible, however retail guys are shorting at severe pace, so creating a lot of liquidity for longing.
0.93% move upwards is a big move for 1 day, I think one more leg down is quite possible, however retail guys are shorting at severe pace, so creating a lot of liquidity for longing.
Trade active:
Opened one more long at 1.062. Stop loss 0 for short opened at 1.0665.
Trade active:
Stop loss for short position triggered. I have added 1 more long position at 1.062 and closed all at 1.072.
Also opened one long position at 1.072 and one short position at the same price.
We have have reached 200 ema on daily, it might be not easy to pass, however, if we will, long continuation is expected.
Retail traders are massively shorting, that adds up fuel for longs.
I will look more into COT data, to see if institutional perspective is stated to shift.
As a conclusion, I am expecting a lot of choppy trading at 200 ema and possibility of hitting 1.08-1.09 is pretty strong. The next strong level is 1.084-1.086 so it is about 150 pips to go, if we breach 200 ema.
Also opened one long position at 1.072 and one short position at the same price.
We have have reached 200 ema on daily, it might be not easy to pass, however, if we will, long continuation is expected.
Retail traders are massively shorting, that adds up fuel for longs.
I will look more into COT data, to see if institutional perspective is stated to shift.
As a conclusion, I am expecting a lot of choppy trading at 200 ema and possibility of hitting 1.08-1.09 is pretty strong. The next strong level is 1.084-1.086 so it is about 150 pips to go, if we breach 200 ema.
Trade closed manually:
After collecting more data, closed all positions today.
COT positioning didn't show long positions added, therefore, neutral to bullish possible direction.
No major economical data this week.
Retail sentiment shorted the pair severely; bullish sign for pair.
As I mentioned earlier, expect some choppy trading with possibility to hit 1.08-1.09, but need more institutional support (adding more long positions and closing shorts).
COT positioning didn't show long positions added, therefore, neutral to bullish possible direction.
No major economical data this week.
Retail sentiment shorted the pair severely; bullish sign for pair.
As I mentioned earlier, expect some choppy trading with possibility to hit 1.08-1.09, but need more institutional support (adding more long positions and closing shorts).