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Retail trader data shows 81.9% of traders are net-long with the ratio of traders long to short at 4.52 to 1. The number of traders net-short is 1.4% lower than yesterday and 17.4% lower from last week.Â
On the chart above you can clearly see the manipulation going on, all the buyers on the trendline brake are now trapped and this will cause more downside momentum as some will sell their positions, we are personally going short as described in the chart, more conservative traders can eventually enter at the resistance above marked by the red rectangle to have a better risk reward.
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