Trading Fibsticks

hello traders,
welcome to this new thread
The Idea for this thread is to share the Buy or sell setups formed in the market for all pairs based on the candlestick pattern formation on major fib levels(FIBSTICKS). the time frame should be should be minimum one hour and we use the COT report for the direction

Buy setup
1. candlestick pattern on or below 61.8, 50 or 38.2 fib levels
2. check the COT report whether it supports for buy or not
3. the TP is 138.2 or 161.8 fib extensions of previous swing
4. SL must be 20 to 30 pips below the recent low



Sell setup
1. candlestick pattern on or above 61.8, 50 or 38.2 fib levels
2. check the COT report whether it supports for sell or not
3. the TP is -38.2 or -61.8 fib extensions of previous swing
4. SL must be 20 to 30 pips above the recent low

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Here is the latest COT report

In COT report the Non commercials are the bankers. They move the market as per their positions.
The Commercials are the corporate companies who normally hedge the prices to reduce the risk for their international activity.
we need to focus on Non commercials positions

EURCAD

sellers TP reached. possible for a retracement there

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EURAUD

Previous day was reversal and buy setup in H4 time frame

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GBPUSD
Sell setup formed in 4hour

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gbpusd form 2 hour sell for the fomc kashkari speech.

what about non farm payroll on friday???? need a guidance ????

Dont think too much about NFP. Recent days NFP is not making big volatile in price. better trade with your strategy with proper risk

yes, fundamentals ride the market technically.we can trade whatever the chart shows us

but stheesh. see the last nfp actual was 20k thats very low. but the next nfp could move the market of (usd (euro/ cad/gbp/jpy).

Normally I quit trading before and after 30 minutes of NFP. after that only I search for some technical entry

EURNZD

Sell set up followed by a daily pin Bar

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GBP Pairs

GBPUSD

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Previous day reversed to downside and follows the weekly. Possible short around 1.312xx or 1.314xx

GBPCHF

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possible short @ 1.3129

GBPJPY

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Possible short @ 146.6x

GBPNZD

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possible short @ 1.941xx

GBPCAD

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possible short @ 1.7526 or 1.7547

GBPAUD

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Possible short @ 1.844xx or 1.8476

Weekly COT report

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EURUSD

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EURo COT Report

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Euro approaching the daily support and possibility is high to break the lows according to the cot report. look @ the change in number of shorts comparing to previous week . they added 24k on short side and it is huge number.

GBPUSD

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COT Report

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A bearish monthly candle and cot reports shows the downside. selling the rallies will give us some good pips. the daily support was approached 3rd time in a row. possible to break that one. but beware of brexit news

USDCAD

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COT Report

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For UsdCad the upside momentum should be continued for this week. buying the dips is the best for this pair. and the cot reports shows Cad on short side hence the UADCAD should go upside

USDJPY

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COT report

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As per cot report yen is weaker and the pairs against yen should go upside. for USDJPY buying the dips could be the best strategy this week

AUDUSD

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COT Report

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Aud will remain downside this week too

GBP

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4 hour turned to downside short here for a better R:R and targeting 1.297xx initially