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Cable Update (GBPUSD)

  • #532,301
  • Jul 1, 2020 5:40am Jul 1, 2020 5:40am
Quoting kuroro001
{quote} Its using the datas on tuesday close....but its released to everybody (banks/funds/retailers) at the SAME time. We have the same edge as them...just saying
I understand it's released at the same time, but if the numbers are a week old, (23rd june), then how is it relevant?

It's essentially telling us that a week ago, there were more buyers than sellers.
Compulsions can be hard to resist
  • #532,302
  • Jul 1, 2020 5:41am Jul 1, 2020 5:41am
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yes yes yes
  • #532,303
  • Jul 1, 2020 5:43am Jul 1, 2020 5:43am
Quoting Moty
{image}
Moty are you now long?
  • #532,304
  • Jul 1, 2020 5:44am Jul 1, 2020 5:44am
Quoting trumps
{quote} Isn't the COT report a lagging indicator, that gives the commitment of traders from a number of days earlier? The one you are showing is dated 23rd of June.
Lagging but useful in the long run. Scalper cant work with it.
Le$$ I$ More
  • #532,305
  • Jul 1, 2020 5:48am Jul 1, 2020 5:48am
Quoting trumps
{quote} If it's data from Tues close, why is it dated 23rd June?
Its from the 23rd close, but released on the 26th
It should be 26th.

Its a few days old, but works on the long run.
You need to read it on the 26th at night, and see what to do for the coming week
COT: The precious data ignored
  • #532,306
  • Jul 1, 2020 5:48am Jul 1, 2020 5:48am
Quoting Roszey
{quote} Lagging but useful in the long run. Scalper cant work with it.
Maybe, if the pair is clearly trending on a weekly basis.
I just question the validity at times of data that is a week old.
A week ago, traders may have been building longs, but that was a week ago, and while price was falling.

Now it is rising, what have traders been doing for the past 7 days?
Compulsions can be hard to resist
  • #532,307
  • Jul 1, 2020 5:51am Jul 1, 2020 5:51am
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keeping this in mind
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  • #532,308
  • Jul 1, 2020 5:53am Jul 1, 2020 5:53am
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better look . Watch that old tl
  • #532,309
  • Jul 1, 2020 5:54am Jul 1, 2020 5:54am
Quoting kuroro001
{quote} Its from the 23rd close, but released on the 26th It should be 26th. Its a few days old, but works on the long run. You need to read it on the 26th at night, and see what to do for the coming week
Ok, a few days, cool.
But it's now the 1st July, a week after the report.
Whats the point of paying attention to it now?

It seems to me traders were building long positions a week ago while price was falling, and we had lift off last night.
Done and dusted.

What next?
Who knows.

Now that price is rising, traders may well be building shorts off resistance.
Compulsions can be hard to resist
  • #532,310
  • Jul 1, 2020 5:56am Jul 1, 2020 5:56am
Quoting Aghostinplai
{quote} Moty are you now long?
short
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yes yes yes
  • #532,311
  • Jul 1, 2020 6:02am Jul 1, 2020 6:02am
CAD: bank holiday...... USD: ADP Non-Farm Employment Change... 1st day of the month.... i think this is all together is the reason why this day is a f.... up day
Time is your friend; impulse is your enemy! - John Bogle
  • #532,312
  • Jul 1, 2020 6:04am Jul 1, 2020 6:04am
short in at 1.2400 target 40pips
Don't trade what you think. Just what you see!!!
  • #532,313
  • Jul 1, 2020 6:06am Jul 1, 2020 6:06am
Quoting Viki84
CAD: bank holiday...... USD: ADP Non-Farm Employment Change... 1st day of the month.... i think this is all together is the reason why this day is a f.... up day
Tomorrow NFP day
  • #532,314
  • Jul 1, 2020 6:10am Jul 1, 2020 6:10am
Quoting k3nshinz3139
{quote} Tomorrow NFP day
Yes! But today ADP NFP from 1 hour now.. and its red!
Time is your friend; impulse is your enemy! - John Bogle
  • #532,315
  • Jul 1, 2020 6:17am Jul 1, 2020 6:17am
Quoting trumps
{quote} Ok, a few days, cool. But it's now the 1st July, a week after the report. Whats the point of paying attention to it now? It seems to me traders were building long positions a week ago while price was falling, and we had lift off last night. Done and dusted. What next? Who knows. Now that price is rising, traders may well be building shorts off resistance.
If you think this way, there is no point in looking at it, AT ALL.
Because everytime you'll be looking at it, it will be a few days old

But it works on the long run...its very very efficient. BUt most people only look at their chart and don't even care looking at what they don't understand
So be it

You should look at it, and check how they are positionned, longs, shorts, fully loaded, small loaded...Etc...
COT: The precious data ignored
  • #532,316
  • Jul 1, 2020 6:29am Jul 1, 2020 6:29am
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mm cross over.
  • #532,317
  • Jul 1, 2020 6:32am Jul 1, 2020 6:32am
drop away
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with the chico span you can get the single earlier
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yes yes yes
  • #532,318
  • Jul 1, 2020 6:33am Jul 1, 2020 6:33am
Reckon today could be a ranging day followed by a decent upmove tomorrow.
  • #532,319
  • Jul 1, 2020 6:37am Jul 1, 2020 6:37am
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yes yes yes
  • #532,320
  • Jul 1, 2020 6:47am Jul 1, 2020 6:47am
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hard work scalping all the levels posted but I think longs are holding on by their nails but play it as we see it
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luisinho