BeSomebodyFX
EURGBP retail still trying to pick the bottom... Retail traders here are adding longs in size since the month started and are now sitting 43% longs (from 29% at the beginning of the month) and i expect them to reach at least 70% longs while price keep squeezing…
Unsurprisingly retails keep adding longs in EURGBP and price keeps squeezing lower as expected, beware of this technical trendline, if it bounces from it we will look for a setup to add shorts as long as retails keep adding longs, target is still the liquidity level market in the chart
This happened today for our EURGBP position…
Yes we got stop hunted to the tick, hilarious isn’t it?
We are hunting retails liquidity and we got hunted to the tick ourselves too…
what do we do in these cases?
Do we take it personally and start revenge trading?
No…
Has something fundamentally changed behind the pair?
No…
So what a professional trader does?
If nothing changed behind the chart, the bias is still intact (which it is), and that stop hunt was just volatility then we simply patiently wait for a new setup to give shorts another try…
Risk reward is our best friend here, we can get stop hunted 2 out of 3 times until we get it right and still come out with a profit, and plus we try to look at the positive side, our initial risk reward for the first trade was 1:2.23, maybe tomorrow we will get a setup with a 1:5 risk reward 😉
Yes we got stop hunted to the tick, hilarious isn’t it?
We are hunting retails liquidity and we got hunted to the tick ourselves too…
what do we do in these cases?
Do we take it personally and start revenge trading?
No…
Has something fundamentally changed behind the pair?
No…
So what a professional trader does?
If nothing changed behind the chart, the bias is still intact (which it is), and that stop hunt was just volatility then we simply patiently wait for a new setup to give shorts another try…
Risk reward is our best friend here, we can get stop hunted 2 out of 3 times until we get it right and still come out with a profit, and plus we try to look at the positive side, our initial risk reward for the first trade was 1:2.23, maybe tomorrow we will get a setup with a 1:5 risk reward 😉
AUDNZD time to jump in long?
Since last week we have been tracking possible longs on AUDNZD, we missed an intraday entry for only 2.5 pips but doesn't matter because looks like a decent macro opportunity is building for the medium/long term
On Friday Goldman Sachs came out with a research highlighting how they are getting long on AUDNZD and positioning in a few other pairs (can't share more details, info exclusive for the Private Network members), we definitely don't follow blindly banks calls but we liked the AUDNZD since we were already tracking in from the previous week, so let's get into it...
Since last week we have been tracking possible longs on AUDNZD, we missed an intraday entry for only 2.5 pips but doesn't matter because looks like a decent macro opportunity is building for the medium/long term
On Friday Goldman Sachs came out with a research highlighting how they are getting long on AUDNZD and positioning in a few other pairs (can't share more details, info exclusive for the Private Network members), we definitely don't follow blindly banks calls but we liked the AUDNZD since we were already tracking in from the previous week, so let's get into it...
Don't want to get much into details on the macro analysis here in the public group since it can't be explained in a quick telegram message (indeed we sent out a full email for the Private Network Members highlighting the reasons for the bias) but in simple we have a clear divergence between the Australian 10Y yields and the New Zealand 10Y yields, but that's not all last week the RBNZ announced they are ready to go negative interest rates while the RBA still stands solid with no intention of negative rates, so a policy divergence has been created between the two.
Now guess what?
Retails are selling the pair of course, this is pretty much all we need for a solid trade, the Private Network Team has already set a long term limit order to buy at a specific level and we will look for intraweek trades too.
On the chart above you will find levels of interest for longs, the last chart is just a visual representation of retail behaviour always keep that in mind when you take your entry.
Now guess what?
Retails are selling the pair of course, this is pretty much all we need for a solid trade, the Private Network Team has already set a long term limit order to buy at a specific level and we will look for intraweek trades too.
On the chart above you will find levels of interest for longs, the last chart is just a visual representation of retail behaviour always keep that in mind when you take your entry.
Retails buying NZD and selling JPY of course you want to do the opposite today hence shorting NZDJPY to the liquidity level, tip for the intraday traders
BeSomebodyFX
Retails buying NZD and selling JPY of course you want to do the opposite today hence shorting NZDJPY to the liquidity level, tip for the intraday traders
Have retails been stopped out at 63.90? just 10 pips shy of our 63.80 target, we don't believe this latest risk rally and there are a lot of stops left untouched at 63.80, we have a small start position short here since this morning, we will be proven wrong only if we get a clean smash above 64.60
BeSomebodyFX
Have retails been stopped out at 63.90? just 10 pips shy of our 63.80 target, we don't believe this latest risk rally and there are a lot of stops left untouched at 63.80, we have a small start position short here since this morning, we will be proven wrong…
We have reduce our short exposure here as we are seeing a reduction in retail longs, we will likely add shorts higher up in the 65.00 - 66.00 range upon confirmation
BeSomebodyFX
Have retails been stopped out at 63.90? just 10 pips shy of our 63.80 target, we don't believe this latest risk rally and there are a lot of stops left untouched at 63.80, we have a small start position short here since this morning, we will be proven wrong…
Job done and liquidity hunted, now fundamentally we believe NZDJPY will trade lower over the coming weeks with the RBNZ ready to go negative rates and the JPY will benefit from safe havens flows, at this point we have a nice range in play, we still hold small shorts on this and will like to see a fakeout to the upside and a close back inside the range to add to our shorts targeting 63.00
BeSomebodyFX
AUDNZD time to jump in long? Since last week we have been tracking possible longs on AUDNZD, we missed an intraday entry for only 2.5 pips but doesn't matter because looks like a decent macro opportunity is building for the medium/long term On Friday Goldman…
Beautiful, divergence between New Zealand yields which are dumping to new lows and Australian yields which instead are relatively supported, AUDNZD remains the biggest long opportunity in the market right now, +250 pips from our first marked buying zone
Do you understand and know what month end flows are and most of all how to benefit from it?
Anonymous Poll
14%
Yes of course!
86%
No Idea...
BeSomebodyFX
Do you understand and know what month end flows are and most of all how to benefit from it?
So looks like 86% of you don't understand month end flows, will get back to you this weekend with an enlightening article
We keep increasing the value of the Network month after month, so soon we will have to increase the monthly fee for the non members again hence this weekend will likely be the last time we accept people at the mere price of 39 a month (joining this weekend you will be grandfathered at this price and it will never increase for you and all the current members), and we will accept only 5 new members so keep your notifications on or just send us a message now to book your seat.
Remember that you are playing the most competitive game in the world, having the right info will give you the edge in the market.
You can see our reviews on Trustpilot:
https://www.trustpilot.com/review/besomebodyfx.com
If you want to book your seat now contact @JayRally
Remember that you are playing the most competitive game in the world, having the right info will give you the edge in the market.
You can see our reviews on Trustpilot:
https://www.trustpilot.com/review/besomebodyfx.com
If you want to book your seat now contact @JayRally