Useful site to see market sentiment

[Philip]

Here is a useful link to get a real time (20 Min) view of the short and long positions held by Oanda. Of course this isn't necessarily reflective of the whole Interbank market, but Oanda is a very large broker, so I find it useful to see what percentage of other traders agree with a position I'm about to take.

Open Position Ratios (Beta) | OANDA FXTrade InfoCenter

[capsmart]

Thank you for the link Philip
How are you planing to use it?
If Eur/Usd is 51.5 % long what will you do?
Or if Usd/Cad is 80% long is a good time to go long?

[raa]

Interesting, I like to watch Dukaskopy TV for market sentiment. Could make sense for swing trades, not for intraday or even intraweek onces...

[Philip]

Thank you for the link Philip
How are you planing to use it?
If Eur/Usd is 51.5 % long what will you do?
Or if Usd/Cad is 80% long is a good time to go long?

Hi guys...well I see it only as another element to examine when making a trading decision. If the technicals are all saying "long", but this site is telling me that 80% of orders are for short positions, I might reconsider my move. I'm not suggesting that this information forms the basis of a trade, but it gives me an idea of what other traders that are using Oanda are thinking. Of course if the split is close to 50% it's telling me that there's an even chance that it could go either way. The %age of open positions at a particular price point may help me anticipate things like short covering.