Submitted by Pivotfarm on 10/12/2010 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? Seeing a strong move towards retail EUR longs especially in EURUSD. This could lead to a confirmation of a short term short side bias in the Euro.
Provided by Pivotfarm – The Home of Support and Resistance Trading
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