More upside possible on XAGUSD, Fundamental & Technical Analysis
Updated
Fundamental: The past two months we've been seeing consistent growth in long positions, short positions on the other hand haven't been experiencing the same consistency with the amount lowering. The Net Position is positive and has been growing consistently the past two months. Open Interest is positive and growing in the sentiment, Total OI has been growing consistently for the past two month but we've seen a drop with the last report.
COT Report: cot-reports.com/cot-report-simplified/
Technical: On the daily time frame we're trading above the EMAs while at the time having the 5 EMA cross up the 20 EMA. Momentum is positive while at the same time having the stochastic pointing up and going over the 50% mark
Target/Stop: I'm targeting the highs with a Stop under the lows.
COT Report: cot-reports.com/cot-report-simplified/
Technical: On the daily time frame we're trading above the EMAs while at the time having the 5 EMA cross up the 20 EMA. Momentum is positive while at the same time having the stochastic pointing up and going over the 50% mark
Target/Stop: I'm targeting the highs with a Stop under the lows.
Trade active
I've entered longs, ill exit a portion of my position once i hit target. Let the rest ride until a EMA cross over and negative momentum or COT reports shows bearish sentimentNote
The new COT Report is showing a drop in long positions being held but not in a alarming amount, Short positions are also seeing a drop. combined the sentiment is still bullish with the short and long positions drop just about negating one another. The Net Position has been dropping for 3 weeks now but the past these weeks has been slower, Open Interest is also dropping these past two weeks with no real change on either side of the OI.I am still bullish but not as much as XAUUSD (Gold)
COT Reports: cot-reports.com/cot-report-simplified/
Trade closed manually
I have taken profits on half of my position once it got near the most prominent high. Ill hold the rest of my position with a stop at where i entered so that i don't lose any profits, i'm going to ride the trend until we get a EMA cross over to the downside or my SL gets hit. Feel free to take 100% profits if you dont want to risk the remaining positions.Good job to anyone who followed my trade idea
Trade closed: target reached
The 5 EMA has crossed the 20 EMA to the downside so I've exited my runners and closed the trade completely. Great trade everyone.
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