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Weekly COT report Analysis + Trade Ideas

  • #7,761
  • Sep 7, 2020 12:20pm Sep 7, 2020 12:20pm
USDCHF and EURUSD.
USDCHF ending diagonal pattern is a bit ahead of EU. I suspect EU might follow the same path.
Attached Image (click to enlarge)
Click to Enlarge Name: UCHF97.PNG Size: 212 KB
  • #7,762
  • Sep 7, 2020 4:17pm Sep 7, 2020 4:17pm
Look like the SW zone might not hold. If 3150 to breaks, it will expose 3050. GU already move 124pips this week which is about 70% of the week range completed hence, my preferred buy price will be 3050 for a quick 50pips.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot at Sep 07 21-08-45.png Size: 69 KB
Le$$ I$ More
  • #7,763
  • Sep 8, 2020 5:34am Sep 8, 2020 5:34am
GBPUSD,
very bearish below 1.3180, TLs are broken, S @ 1.30.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU983.PNG Size: 139 KB
Click to Enlarge Name: GU 982020.PNG Size: 113 KB
  • #7,764
  • Sep 8, 2020 5:47am Sep 8, 2020 5:47am
Quoting Bones
I think you're looking at a top ,that would be the end of wave 5.The end of this bullish move for now. I checked abc is a bullish pattern on the drawing ,then that wave down we see is wave 1 of 5 next big picture.It can only retrace below that high without down. Its a top on the following reasons ,Major tl touch and respect to the pip and pivot space ,side on monthly . USD basket has also hit it's tl and reacted. The next monthly we are in is bearish....not continue under 13500 High probability bearish in form monthly print.Check weekly close ....
Could this be 1 of 5 down I don't see the abc ?
if it holds here it can go close the opening gap (2) then free-fall 3 wave
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,765
  • Sep 8, 2020 5:57am Sep 8, 2020 5:57am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2020-09-08 at 11.57.03.png Size: 342 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,766
  • Sep 8, 2020 6:00am Sep 8, 2020 6:00am
Quoting Bones
{quote} Could this be 1 of 5 down I don't see the abc ? if it holds here it can go close the opening gap (2) then free-fall 3 wave
It could be. Coreg charted this as a very sharp zigzag (abc) to this area. and he has been spot on.
I was thinking it could have a leg up before falling this low, but I was wrong.
  • #7,767
  • Sep 8, 2020 6:04am Sep 8, 2020 6:04am
Quoting Roszey
Look like the SW zone might not hold. If 3150 to breaks, it will expose 3050. GU already move 124pips this week which is about 70% of the week range completed hence, my preferred buy price will be 3050 for a quick 50pips. {image}
Working as planned.. let see how the day ends
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot at Sep 08 11-02-22.png Size: 61 KB
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  • #7,768
  • Sep 8, 2020 6:05am Sep 8, 2020 6:05am
Quoting Bones
{image}
yea, that is very possible
  • #7,769
  • Sep 8, 2020 6:13am Sep 8, 2020 6:13am
Quoting shahab8b
USDCHF and EURUSD. USDCHF ending diagonal pattern is a bit ahead of EU. I suspect EU might follow the same path. {image}
EURUSD, let's see if it can break below that TL and 1.17 S. it's been very resilient for now.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily 982020.png Size: 35 KB
  • #7,770
  • Sep 8, 2020 6:15am Sep 8, 2020 6:15am
the top its very firm now has to be the end of impulse ,this last weekly is confirmed in a major location
Attached Image (click to enlarge)
Click to Enlarge Name: 111 GBPUSD-Weekly.png Size: 18 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,771
  • Sep 8, 2020 6:22am Sep 8, 2020 6:22am
Quoting Bones
the top its very firm now has to be the end of impulse ,this last weekly is confirmed in a major location {image}
That might be very well the case.
  • #7,772
  • Sep 8, 2020 6:30am Sep 8, 2020 6:30am
Quoting shahab8b
{quote} That might be very well the case.
can wave 1 go further than the diagram ? so below that 4 on the up ?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,773
  • Sep 8, 2020 6:32am Sep 8, 2020 6:32am
GBPUSD, very important S zone 1.3050-1.30, lets see what happens from here
Attached Image (click to enlarge)
Click to Enlarge Name: GU 983.PNG Size: 111 KB
  • #7,774
  • Sep 8, 2020 6:40am Sep 8, 2020 6:40am
Quoting Bones
{quote} can wave 1 go further than the diagram ? so below that 4 on the up ?
yes, it can. a correction of higher degree (wave 4) can also be deep as long as it does not overlap with wave 1 (1.28)
  • #7,775
  • Sep 8, 2020 6:42am Sep 8, 2020 6:42am
Quoting shahab8b
GBPUSD, very important S zone 1.3050-1.30, lets see what happens from here {image}
for today, I'm gonna scalp long GU as long as it stays above 1.30
  • #7,776
  • Sep 8, 2020 6:47am Sep 8, 2020 6:47am
Quoting shahab8b
USDCHF, looking for a close above 0.92 to confirm the reversal. {image}
USDCHF, got rejected @ 0.92 R
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFH4 982020.png Size: 32 KB
  • #7,777
  • Sep 8, 2020 7:20am Sep 8, 2020 7:20am
Quoting shahab8b
{quote} EURUSD, let's see if it can break below that TL and 1.17 S. it's been very resilient for now. {image}
EU, it looks bearish short term as long as it stays below 1.1865, but there are major S zones below and long term is bullish above 1.17
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1 98.png Size: 38 KB
  • #7,778
  • Sep 8, 2020 7:30am Sep 8, 2020 7:30am
Quoting shahab8b
{quote} for today, I'm gonna scalp long GU as long as it stays above 1.30
GU, long scalp, I'll hold it if it survives. if it doesn't, I'll try again close to 1.30, 115% ADR atm
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1 982.png Size: 36 KB
  • #7,779
  • Sep 8, 2020 7:38am Sep 8, 2020 7:38am
Quoting shahab8b
{quote} GU, long scalp, I'll hold it if it survives. if it doesn't, I'll try again close to 1.30, 115% ADR atm {image}
I have already taken 40 pips scalping that support..
Le$$ I$ More
  • #7,780
  • Sep 8, 2020 7:39am Sep 8, 2020 7:39am
Quoting Roszey
{quote} I have already taken 40 pips scalping that support..
Nice going Roszey! yea staying above 1.3 should provide enough S for today.
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