Looking Like A Crowed Trade . . .
BUT, here's another reason to go short.
Yet, 2 things keep me uneasy with this .9200 area
Retail traders, including lots of posts for short positions
on TView, are already short. Sites where retail traders
report their positions have proven rather good contrary
indicators in the recent 6/12 months and Aussie tops the list.
www.forexfactory.com/trades.php
Additionally, RSI is just barely showing divergence.
It would not surprise me if the Aussie came up just slightly
short of entry targets-backed off 20 pips and then Blasted
Through the .9200. Squeezed out all the shorts and then
started dropping like a rock
(Or it could just correct higher)
Let the test begin ~~~~~~~~
Yet, 2 things keep me uneasy with this .9200 area
Retail traders, including lots of posts for short positions
on TView, are already short. Sites where retail traders
report their positions have proven rather good contrary
indicators in the recent 6/12 months and Aussie tops the list.
www.forexfactory.com/trades.php
Additionally, RSI is just barely showing divergence.
It would not surprise me if the Aussie came up just slightly
short of entry targets-backed off 20 pips and then Blasted
Through the .9200. Squeezed out all the shorts and then
started dropping like a rock
(Or it could just correct higher)
Let the test begin ~~~~~~~~
