KNOW WHAT OTHERS DON'T
Welcome to my Market Directions ramblings.
I mainly focus on Major Forex pairs.
The idea is to grasp Intermediate to Longer term market moves.
I use different aspects of Technical Analysis and I take into consideration economic news data, but just in conjunction with my technical analysis.
Comments and criticism are welcome as long as they are constructive and will help both readers and me to improve our understanding of markets moves.
Tuesday, February 28, 2006
Long CAD? Everyone else is doing it.
"When Alexander saw the breadth of his domain, he wept for therewere no more worlds to conquer."
Just the sight of this chart makes me want to go long, I guess it makes everyone else want to also. Earlier had commented to Idejan that on the long/short indicator on the blog showed 100% short on the swissy.
He informed me that some of the other brokers were showing near 100% long on the Cad. And indeed checked the open long/short ratios at OANDA, sure enough it’s way up there, so my dreams of slaying the market were dashed.
Still took out a small position long……
Just a bear brained thought,....... when everyone is going in the same direction, it’s time for a reverse….. for there’s no one left to take the other side.
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