Hello big Boyz! Don’t get fooled by price action. Money is king and it’s the owner of the market. Non-commercials are closing shorts and accumulating dollar longs while they keep the prices stagnated. This is professionals doing their best. The best approach for us is to buy any dollar dip and while the breakout does not happen we sell at previous resistance, this is working amazingly good with EURUSD.
Let’s look what I prepared for you this week, but you know, before you start don’t forget to follow me @leohermoso
The absence of new cot signals is a strong indication that we are doing the right thing. The dollar bullish approach is working and will continue. Today EURUSD made a big ride to the upside, you should face it as an opportunity to trade, short it (buy dollar).
TraderSZ, one of the greatest speculators I know, says that “waiting (this is where you fuck up)”. Now it’s time to focus on buying USD and don’t panic when an adverse move happens, this is how markets works. Remember #dataisking.
GBP – BUYING ACROSS THE BOARD
José Ricaurte (@JoseRicaurteJ) keep saying #dataisking as a mantra, and what I am about to show you reinforce this idea, and make another point, that you don’t need to look at charts. Non-commercials are preparing the ground for a strong move to the upside on GBP. Why? Check the picture:
That’s a lot of money in GBP and against all currencies available, even against gold and euro. I don’t know why, but I know it’s happening. If you are a member it’s time to go to the dashboard check the volatility tables and the supply and demand levels. If you are not I will leave some levels for you.
I invite you to explore AUD and CAD data, their behavior is similar to GBP. Go to the COT Tool and on the “Big Movers” table filter for AUD and CAD. I think this week the moves will be on these currencies.
If you are not a member yet, I invite you to join us. There are great tools, no staring at charts, but just in time alerts. See the pricing.
That’s it my friends, I hope you can make some money out of it.