When we take a deeper look into this pair from the daily time frame we can see that in reality it is caught within a small range. We closed with a bearish engulfing candle which may indicate more sells but we cant sell immediately without getting confirmation from the lower time frames. I have indicated how you could potentially trade this pair, although it would be going against the COT and Sentiment bias it still looks like a great set-up and I have found that trading against the majority more often than not works! Let’s see how this trade unfolds, remain patient.
78% of commercial players are short according to our COT Data source
78% are net-long according to IG Client Sentiment
78% of commercial players are short according to our COT Data source
78% are net-long according to IG Client Sentiment
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.