After rejection of going down, it follows the strong move up and now we need to wait on which side will be breakout. I always use H1 and M15 for execution. The move up is more favorable but also 90% of retail traders are watching the move up so i prefer the contrarian trade.
Retail trader data shows 76.5% of traders are net-long with the ratio of traders long to short at 2.94 to 1. In fact, traders have remained net-long since Dec 06 when AUDJPY traded near 83.552; price has moved 9.4% lower since then. The number of traders net-long is 17.1% lower than yesterday and 9.4% lower from last week, while the number of traders net-short is 6.7% higher than yesterday and 60.0% higher from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests AUDJPY prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current AUDJPY price trend may soon reverse higher despite the fact traders remain net-long.
Retail trader data shows 76.5% of traders are net-long with the ratio of traders long to short at 2.94 to 1. In fact, traders have remained net-long since Dec 06 when AUDJPY traded near 83.552; price has moved 9.4% lower since then. The number of traders net-long is 17.1% lower than yesterday and 9.4% lower from last week, while the number of traders net-short is 6.7% higher than yesterday and 60.0% higher from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests AUDJPY prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current AUDJPY price trend may soon reverse higher despite the fact traders remain net-long.
Note
Nice breakout in up trend.
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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.