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Forex Strategy Video: Pick a GBPUSD and S&P 500 Top or Jump on the Trend?

Forex Strategy Video: Pick a GBPUSD and S&P 500 Top or Jump on the Trend?

John Kicklighter, Chief Strategist

Talking Points:

• Impressive rallies from the S&P 500, GBPUSD and NZDUSD have brought us to highs of different 'extremes'

• For GBPUSD, a multi-year high has led speculators to position for a reversal in record numbers

• Considering tops and bottoms occur rarely, how do we trade this high potential/low probability events?

Sign up for DailyFX-Plus to have access to updates on the extreme speculative positioning figures for GBPUSD, NZDUSD, the S&P 500 and many other pairs and markets!

The S&P 500 has rallied aggressively into resistance at record highs and GBPUSD has hit a multi-year high at breakneck speed. Are these high potential reversal opportunities or a sign of renewed trend strength? Major reversals (tops and bottoms) occur a very small percentage of the time. That said, most robust trading plans depend on taking high probability setups time and again. You wouldn't assume that if you looked at the record counter-trend positioning (nearly 9 shorts for every 1 long) the SSI shows for GBPUSD. It isn't necessary to avoid reversals altogether, but it is exceptionally important to analyze and trade them in a smarter way. We discuss this intoxicating and rare market event in the weekend Strategy Video.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.