EUO spiked down this morning on good volume to the bottom of the
wedge, I think it's a low risk entry here with a stop, maybe the
high volume spike down was a capitulation of sort
Felt like a capitulation for sure yes. I looked at retail
futures positions and they are still marginally short by 7000
contracts as of yesterday
Bit frustrating. Its only one piece of information but it does
prove very useful. Retail investors were short by 100k contracts
several weeks ago in Euro since which its rallied 1000pips
Low risk as you say here so worth at the very least to scale in
to
EUO 60 min chart, low risk entry here
Posted by matt on 6th of Aug 2010 at 11:55 am
EUO spiked down this morning on good volume to the bottom of the wedge, I think it's a low risk entry here with a stop, maybe the high volume spike down was a capitulation of sort
EUO 60 min chart
http://stockcharts.com/c-sc/sc?s=EUO&p=60&yr=0&mn=2&dy=0&i=p69493090735&a=205672514&r=5335
also the daily chart hit the 200 day MA today
EUO daily chart
Felt like a capitulation for
Posted by vimal on 7th of Aug 2010 at 02:49 am
Felt like a capitulation for sure yes. I looked at retail futures positions and they are still marginally short by 7000 contracts as of yesterday
Bit frustrating. Its only one piece of information but it does prove very useful. Retail investors were short by 100k contracts several weeks ago in Euro since which its rallied 1000pips
Low risk as you say here so worth at the very least to scale in to
Yep why I picked up
Posted by cspirit on 6th of Aug 2010 at 12:29 pm
Yep why I picked up a large share size to scalp. Hopefully we can get 21.10 today as pullback target I was looking for on the Euro was hit near 1.328