Submitted by Pivotfarm on 10/11/2010 01:58 -0500
This daily report is designed to help traders find opportunities to trade against this group. The premise is very simple we are looking for 66% of retail traders to be trading either long or short a currency pair, we then look for opportunities to fade (trade against) this group. For example if 72.99% of traders are long the USD/CHF we look for opportunities to short that pair.The pairs that we feel offer the highest opportunity for success are described in the Shortand Long Zones.
What’s New Today? Retail traders have continued to strengthen to the long side of the GBP/JPY. A few more percentage points and it will enter the short zone.
Provided by Pivotfarm – The Home of Support and Resistance Trading
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