Forex Trading - EUR USD At Bottom For Next 3 Years? Next Entry Shown

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When it comes to trading it's best to have no opinion about where prices are headed and it is essential to never have any personal sentiment either bullish or bearish. Instead consider just looking at the charts and observing patterns, signals, and market phenomenon that can be recognized as turning points on any time frame.

One clue that was recently revealed is from the COT (CFTC commitment of traders report). Right now almost all commercial traders are long on the Euro in commodity futures. The majority seems to be short on the U.S. dollar although that conflicts with what I am seeing in relation to the current long term pattern formation on the stock market which normally moves in the exact opposite direction of the U.S. dollar.

What gets really exciting is when you see what is happening on the monthly, weekly , and daily time frames for the EUR USD. It appears highly probably that the EUR is now at least forming a correction to the last downtrend on the daily time frame and possibly a continuation of the long term uptrend on the weekly and monthly time frames.

What is even more exciting is that as you have learned from several previous videos it is not necessary to know which of these possibilities is currently happening in order to extract the maximum amount of profit on the next shorter time frames while waiting to see how the story unfolds.

Category:

People & Blogs

Tags:

• : Forex trading
• forex trading strategy
• EUR USD
• commitment of traders report
• COT
• COT data
• euro
• ECB

[tradeartist]

@edbaines Thanks. I already had peole disagree with that possibility but they missed the part where I said I don't know if it will continue the long term uptrend and it won't matter for our trades on the shorter time frames.

[edbaines]

I rarely ever comment on here...but i felt compelled to acknowledge this clip.

Now that...is what it's all about. Keep up the good work.