WYCKOFF / COT PERSPECTIVE ON GBPUSD
- Institutional actions preceed price in past 2 years
- COT is inverted to better show correlation between shorts and price
- 2021 was consolidation phase where institutions accumulated shorts
- First 9 months of 2022 was mark down phase
- Driving price to a level where shorts could be distributed with a healthy profit
- Last quarter of 2022 was profit-taking phase where shorts were rapidly unwound
- Short positions is back at levels of begin 2021
- Wait for institutions to kick off a new campaign
- Seasonally begin of year is not trending for GBPUSD
- COT is inverted to better show correlation between shorts and price
- 2021 was consolidation phase where institutions accumulated shorts
- First 9 months of 2022 was mark down phase
- Driving price to a level where shorts could be distributed with a healthy profit
- Last quarter of 2022 was profit-taking phase where shorts were rapidly unwound
- Short positions is back at levels of begin 2021
- Wait for institutions to kick off a new campaign
- Seasonally begin of year is not trending for GBPUSD
Sultan of Swing
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