Do you want to know the KEY trading decisions you should make today? Continue reading and you will see the mysteries that we unlocked. Covered in this live session were the following pairs as we reviewed our COT analysis data.
GBPUSD - likely going to drop because 3mn supply was in play. Retail traders extremely long and getting punished. Our students are not falling for these traps. We have no proper structures on the the weekly chart so trading decisions cannot be made on the weekly. So what do we do? We go down to the daily and 4h charts. Over the long term we are expecting a bigger drop to the 1.30's. We must wait for the right signals for entries!
See the full details in the live session at this link.
EURUSD - we spoke about the fact the monthly demand is weak. This fact was covered in many of our classroom sessions. Going long on this pair now is very dangerous based on the current structure. Retail traders are extremely long and also getting punished. Our students are not falling for these traps. We will wait for the proper short signals once our critical level is broken the proper way. We will focus on the daily chart for now and wait for a higher quality downtrend for entries.
Conclusion:
We will be watching for the proper signals to engage the markets. Our signals are determined based on our tried, tested and undisputed Sherlock System. In the mean time we will be patient and continue to master our craft and skills to continuously be able to predict the moves the way we do.
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For more details on the analysis above see the link below.
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