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Weekly COT report Analysis + Trade Ideas

  • #7,081
  • Edited 8:00am Jul 22, 2020 7:49am | Edited 8:00am
Quoting shahab8b
{quote} EURUSD, possible target for the pattern is 1.168 {image}
EURUSD, weekly chart. It may get some R here around 1.16, fib .50 and former S/R. After that I see 1.1680 (saucer pattern target) and 1.18 (fib .61 and former R) next on the card. I think eventually it will get to 1.22 which is a level that got broken and never tested.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU saucer.PNG Size: 91 KB
Click to Enlarge Name: EU wk.PNG Size: 70 KB
  • #7,082
  • Jul 22, 2020 9:18am Jul 22, 2020 9:18am
Quoting Coreg2004
{quote} same ol', same ol'...{image}now interesting chart of EU with ATR and the trade taken after completion of AB=CD pattern...do you remember my rule 80-120% of daily ATR(14){image}
If DXY will continue down possible ABC becoming a 1-2-3-4-5 pattern...just keep eye on it and incorporate it into your method of trading.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU07.22.daily.png Size: 86 KB
Click to Enlarge Name: DX07.22.daily.png Size: 82 KB
Always trade your own plan...I don't provide trading signals.
  • #7,083
  • Jul 22, 2020 10:11am Jul 22, 2020 10:11am
Quoting Coreg2004
{quote} If DXY will continue down possible ABC becoming a 1-2-3-4-5 pattern...just keep eye on it and incorporate it into your method of trading. {image} {image}
Thanks for the charts Coreg. I think it's already 12345 based on the EU chart, waiting for the abc correction.
  • #7,084
  • Jul 22, 2020 10:42am Jul 22, 2020 10:42am
Quoting shahab8b
{quote} Thanks for the charts Coreg. I think it's already 12345 based on the EU chart, waiting for the abc correction.
shahab8b, I wonder if C is already in place or we will see one push up on 30M TF... I shorted based on "120%ATR". Target green zone, SL 1.16149
Attached Image (click to enlarge)
Click to Enlarge Name: EU07.22.30M.png Size: 93 KB
Always trade your own plan...I don't provide trading signals.
  • #7,085
  • Jul 22, 2020 11:16am Jul 22, 2020 11:16am
Quoting Coreg2004
{quote} shahab8b, I wonder if C is already in place or we will see one push up on 30M TF... I shorted based on "120%ATR". Target green zone, SL 1.16149 {image}
I've short it @ 1.16 per my analysis above. But it looks like a triangle formation. It's not done yet.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1 72020.png Size: 39 KB
  • #7,086
  • Jul 22, 2020 12:31pm Jul 22, 2020 12:31pm
Quoting shahab8b
{quote} I've short it @ 1.16 per my analysis above. But it looks like a triangle formation. It's not done yet. {image}
shahab8b, here is my 5M chart and target based on ABC pattern
Attached Image (click to enlarge)
Click to Enlarge Name: EU07.22.5M.png Size: 84 KB
Always trade your own plan...I don't provide trading signals.
  • #7,087
  • Edited 2:49pm Jul 22, 2020 1:02pm | Edited 2:49pm
Quoting Coreg2004
{quote} shahab8b, here is my 5M chart and target based on ABC pattern {image}
AB=CD hit, TS moved to 1.15849...
Attached Image (click to enlarge)
Click to Enlarge Name: EU07.22.5M.b.png Size: 94 KB

I fixed the Ext...
Attached Image (click to enlarge)
Click to Enlarge Name: Imp.extension.PNG Size: 169 KB
Always trade your own plan...I don't provide trading signals.
  • #7,088
  • Jul 22, 2020 1:09pm Jul 22, 2020 1:09pm
Quoting Coreg2004
{quote} AB=CD hit, TS moved to 1.15849...{image}{image}
I'm looking for a deeper correction. But it is dropping one pip per hour! It's hopeless.
  • #7,089
  • Jul 22, 2020 1:09pm Jul 22, 2020 1:09pm
Quoting Coreg2004
{quote} shahab8b, here is my 5M chart and target based on ABC pattern {image}
Thanks for the chart and target.
  • #7,090
  • Jul 22, 2020 1:17pm Jul 22, 2020 1:17pm
Quoting Coreg2004
{quote} AB=CD hit, TS moved to 1.15849...{image}{image}
It will have a hard time to get to my target. I'll close it if it bounces off those levels
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDM1 722.png Size: 42 KB
Click to Enlarge Name: EURUSDDaily 722.png Size: 42 KB
  • #7,091
  • Jul 22, 2020 1:31pm Jul 22, 2020 1:31pm
Quoting shahab8b
{quote} I'm looking for a deeper correction. But it is dropping one pip per hour! It's hopeless.
shahab8b, it's day trading on 30M TF and managed on 5M design to get 35-60 pips/points per trade...I take profit on half position at AB=CD or at 50% retracement of impuls wave on counter-trand trade...just wanted to show how I day trade, nothing fancy only basic patterns.
Always trade your own plan...I don't provide trading signals.
  • #7,092
  • Jul 22, 2020 2:45pm Jul 22, 2020 2:45pm
Quoting Coreg2004
{quote} AB=CD hit, TS moved to 1.15849...{image}{image}
Taken out on trail on both units for 20 pips per unit...40 pips in 6 hours...wow
Attached Image (click to enlarge)
Click to Enlarge Name: EU07.22.5M.c.png Size: 90 KB
Always trade your own plan...I don't provide trading signals.
  • #7,093
  • Jul 23, 2020 6:09am Jul 23, 2020 6:09am
EURUSD, possible double top, it may also turn into a bullish triangle
Attached Image (click to enlarge)
Click to Enlarge Name: EU dt.PNG Size: 52 KB
  • #7,094
  • Jul 23, 2020 6:42am Jul 23, 2020 6:42am
second approach to capture W_4 (of course if my labeling is correct). I always keep in mind that I can be wrong and other pattern is in play...4th is a biatch and requires lot of patience with possible 2 entries...
Attached Image (click to enlarge)
Click to Enlarge Name: EU07.23.30M.png Size: 86 KB
With EU lets monitor DXY also on 30M TF
Attached Image (click to enlarge)
Click to Enlarge Name: DX07.23.30M.png Size: 75 KB
Always trade your own plan...I don't provide trading signals.
  • #7,095
  • Jul 23, 2020 6:50am Jul 23, 2020 6:50am
Quoting Coreg2004
second approach to capture W_4 (of course if my labeling is correct). I always keep in mind that I can be wrong and other pattern is in play...4th is a biatch and requires lot of patience with possible 2 entries... {image}
Thanks Coreg. Also there is a possibility for a truncated 5th wave if it breaks the neckline on my chart.
  • #7,096
  • Jul 23, 2020 7:10am Jul 23, 2020 7:10am
Quoting shahab8b
{quote} Thanks Coreg. Also there is a possibility for a truncated 5th wave if it breaks the neckline on my chart.
I thought of it, shallow 4th made yesterday, nice eyes shahab8b, very possible
Always trade your own plan...I don't provide trading signals.
  • #7,097
  • Jul 23, 2020 7:51am Jul 23, 2020 7:51am
Decision time coming up for short term traders...
Attached Image (click to enlarge)
Click to Enlarge Name: DX07.23.30M.b.png Size: 113 KB
and the DXY
Attached Image (click to enlarge)
Click to Enlarge Name: DX07.23.30M.c.png Size: 81 KB
Always trade your own plan...I don't provide trading signals.
  • #7,098
  • Jul 23, 2020 7:58am Jul 23, 2020 7:58am
Quoting shahab8b
EURUSD, possible double top, it may also turn into a bullish triangle {image}
EURUSD, short trade update
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1 7232020.png Size: 36 KB
  • #7,099
  • Jul 23, 2020 8:42am Jul 23, 2020 8:42am
GBPUSD
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM30 7232020.png Size: 45 KB
  • #7,100
  • Jul 23, 2020 12:34pm Jul 23, 2020 12:34pm
Quoting shahab8b
{quote} EURUSD, short trade update {image}
EURUSD, that was some busted double top pattern (it did reach 60% of its theoretical target, but nonetheless, it wasn't what I thought).
I plan to go long on a retest of 1.1.6. This may bring good luck to those shorting EU!
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30 7232020.png Size: 36 KB
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