. Conclusion So for now, just avoid sentiment chasing. A forex trader must realize that the overall market is a combination of all the views, ideas and opinions of all the participants in the market. How to Develop a Market, sentiment -Based Approach, as a forex trader, it is your job to gauge what the market is feeling. One, I was not in that pair. . As a metals trader, I can tell you with 100 confidence, that the XAU/USD part of this thing is completely fucking useless. How I Barely Use It The SSI has a practical use in my trading, but a small one. . More on this soon. Then, theyll blindly say Its a contrarian indicator, and if the masses are long, they will state that they have a bearish outlook on the pair. Price was stalling out a bit to top it all off, so I veered away from my system, used my experience, and exited my USD/CAD long trade.
This is what I had on hand for a long time before fxcm got bought out. . Youve been told its important to pay attention. Analyst Recommendations, eurusd Euro Forecast to Fall even Further versus US Dollar. My exit indicator is about to trigger anyway, so its probably a moot point. But if you can find a crack here, you may have succeeded where I havent.
Here s how we might use it in trading. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Spot Gold prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week.