AUD/NZD 1/21/2021 20:05
Fundamental/Sentimental
Cot: Very little correlation between any funds what so over, but I would say both have about the same control over price action’s movements. However, both funds have added massive longs, price action has yet to reflect this even the slightest.
News and Events: Inflation related news on the 26th that is likely to move the market, possibly in a specific direction, likely in favor of sellers.
Technical
Time Frame Analysis: Monthly: 4 R touches into a down strend, short squeeze. No one is winning the battle here. Weekly: Still a tie, no clear indications either, no trends being respected, little structural support, fibs working poorly. Daily: Market seems to move in a more predictable manner, exhaustion is clear as day, good indication of an uptrend. 4H: Buyers are ready to enter the market any time, not much to go off of to say when. 1H: Very little to play with here.
Indicators: RSI indicates buyers are about to swoop in on smaller time frames.
Entry
Order: Stop buy
Position: 0.02, 5000 USD
RR: 4.27
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