Thread: It seems to me that GBPUSD & EURUSD are ready for a nose dive
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Old 25-08-2006, 15:31   #9
Der
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Re: It seems to me that GBPUSD & EURUSD are ready for a nose dive
Quote:
Originally Posted by FXGenius
A good place to see COT data on charts is: http://www.freecotcharts.com/charts/BP.htm

Commercials seems to be heavily long on US dollar.

Things aren't always what they seem!! I looked at some COT charts a couple of nights ago and I thought.....this could mean a big drop. I believe that what you need to look at at the non-commercials. When they are at an extreme position, it could signal a move in the opposite direction. Now, the non-commericals are heavily long Eur.....so it could mean a trend change to a stronger dollar. Please correct me if I am wrong.......
Does anybody here use COT to trade?
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