Does anyone trade using sentiment?

[Davidee]

On Friday, yesterday (05 Nov 2010) OandA's open position ratio on the EUR/USD 'flipped' and most retail traders are now long the EUR/USD. I take this as a bearish signal on the EUR/USD, if it lasts.

What are your thoughts about this, using retail sentiment as a contrarian indicator?

 

[Hubu]

Interesting idea to use Sentiment as indicator. But i think it would be required o have more daa then only the ones from oanda.

What you think?

 

[Enivid]

Oanda is quite big. I'd say their data can be enough if you know how to interpret it.