AUDUSD Short Late/Re-entry
Price has come back down to the last swing low/base made before what was essentially a two week bull run. We have broken past this area and come back to retest it.
When price came back to retest this key zone, we saw it touch the 61.8% fib retracement level.
Non-Commercial traders, as can be seen through COT filings, are a majority short AUDUSD.
128,816 short positions are currently held by Non-Coms vs 49,640 longs.
Latest COT filings do show a slight increase in Net Positions (Longs-Shorts) compared to the previous. Possibly due to profit taking by Non-Commercials.
Commercial Traders, who are in most cases contrarian to price, are a majority long.
Commercials have 129,292 long positions open vs 39,515 shorts.
My original entry was around 0.65491 on the 21st of Feb close. My SL was at 0.66249, just above what was then the swing high, but have now moved to 0.66008, just above the latest swing high.
Price has come back down to the last swing low/base made before what was essentially a two week bull run. We have broken past this area and come back to retest it.
When price came back to retest this key zone, we saw it touch the 61.8% fib retracement level.
Non-Commercial traders, as can be seen through COT filings, are a majority short AUDUSD.
128,816 short positions are currently held by Non-Coms vs 49,640 longs.
Latest COT filings do show a slight increase in Net Positions (Longs-Shorts) compared to the previous. Possibly due to profit taking by Non-Commercials.
Commercial Traders, who are in most cases contrarian to price, are a majority long.
Commercials have 129,292 long positions open vs 39,515 shorts.
My original entry was around 0.65491 on the 21st of Feb close. My SL was at 0.66249, just above what was then the swing high, but have now moved to 0.66008, just above the latest swing high.