Multiple authors already posted this pattern under EURUSD. I previously posted on the EURUSD Bearish Pin Bar on the daily chart (August30, 2017). Back then, I did not look at the COT data. I am correcting that oversight now.
Go to wwwdotbarchartdotcom and look under futures then under Commitment Of Traders. It looks like the commercials play futures on a longer time scale (better for long term trend changes) than the large speculators (who are better to follow for short term momentum trades). Certainly the commercials can get caught on occasion in a short squeeze but that does not seem to happen very often.
Go to wwwdotbarchartdotcom and look under futures then under Commitment Of Traders. It looks like the commercials play futures on a longer time scale (better for long term trend changes) than the large speculators (who are better to follow for short term momentum trades). Certainly the commercials can get caught on occasion in a short squeeze but that does not seem to happen very often.
Note
The "head" bearish pin bar occurred at September 8, 2017 and that was 9 days after the pin bar I posted on.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.