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Weekly COT report Analysis + Trade Ideas

  • #7,801
  • Sep 8, 2020 4:34pm Sep 8, 2020 4:34pm
Quoting shahab8b
GBPUSD, pending buy order @ 1.30, sl 20 pips, tp 1.3250
stopped out.
  • #7,802
  • Sep 8, 2020 4:48pm Sep 8, 2020 4:48pm
GU took out 1.3 S with ease and closed below it. The trend is very bearish against 1.3050.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 9821.PNG Size: 106 KB
  • #7,803
  • Sep 8, 2020 4:52pm Sep 8, 2020 4:52pm
EU, the daily close below 1.18 indicates bearish pressure. a break below 1.17 and rising TL will indicate a top is in place
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily 98.png Size: 34 KB
  • #7,804
  • Sep 8, 2020 5:01pm Sep 8, 2020 5:01pm
Quoting shahab8b
AU, possible H&Sh on H1 {image}
AUDUSD, short trade update, tp @ 0.71
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDDaily 98.png Size: 42 KB
  • #7,805
  • Sep 8, 2020 5:06pm Sep 8, 2020 5:06pm
Quoting shahab8b
{quote} USDCHF, you can never be 100% certain, no matter how many years you have done this. But as long as you go based on the probabilities and keep RRR>1, you can make it. USDCHF was rejected @ 0.92 R, bearish H4 candle, and a wedge looking pattern. I decided to switch to short. and I can still be wrong. {image}
USDCHF, stopped out @ b/e
Attached Image (click to enlarge)
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  • #7,806
  • Sep 8, 2020 5:22pm Sep 8, 2020 5:22pm
The Weekly CS is showing bear strength. Judging from the way the SW Zone was broken and price likely to close below it. I think we should see the sell continue for the rest of the month.
Attached Image (click to enlarge)
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Le$$ I$ More
  • #7,807
  • Sep 8, 2020 5:47pm Sep 8, 2020 5:47pm
GU, weekly, it breezed through 1.30 S zone, the next major S @ 1.2750-1.28.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 98 2021.PNG Size: 67 KB
  • #7,808
  • Sep 8, 2020 9:25pm Sep 8, 2020 9:25pm
EURJPY, possible double top
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 98.PNG Size: 124 KB
  • #7,809
  • Sep 9, 2020 1:31am Sep 9, 2020 1:31am
The month of Jun's High should be a nice place to see a retracement.
Attached Image (click to enlarge)
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Le$$ I$ More
  • #7,810
  • Edited 5:10am Sep 9, 2020 4:43am | Edited 5:10am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20200909-114657.png Size: 68 KB


Hi shahab8b and coreg2004

Since you guys know about wave count I thought I should come to you, according to fractal nature of the market in the weekly chart the market created fractals to show the end of wave1 & wave2 but it did not create a fractal to show the end of wave3 meaning that wave3 was still in place up to 1.34..

What do you guys think?
BARAK
  • #7,811
  • Sep 9, 2020 6:11am Sep 9, 2020 6:11am
Quoting MarketPatrol
{image} Hi shahab8b and coreg2004 Since you guys know about wave count I thought I should come to you, according to fractal nature of the market in the weekly chart the market created fractals to show the end of wave1 & wave2 but it did not create a fractal to show the end of wave3 meaning that wave3 was still in place up to 1.34.. What do you guys think?
Hi, I don't use fractals, but wave 3 is in place. also, per guideline, wave 4 should not overlap with wave 1 (1.28). if it happens, this wave count needs a revision.
  • #7,812
  • Sep 9, 2020 6:45am Sep 9, 2020 6:45am
Quoting shahab8b
GU took out 1.3 S with ease and closed below it. The trend is very bearish against 1.3050. {image}
GU, went short on daily close below major S @ 1.30. The trend remains very bearish below 1.30. I am expecting a bounce between 1.29 and 1.285 and another opportunity to short.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily 99.png Size: 34 KB
  • #7,813
  • Sep 9, 2020 6:52am Sep 9, 2020 6:52am
Quoting shahab8b
USDCHF and EURUSD. USDCHF ending diagonal pattern is a bit ahead of EU. I suspect EU might follow the same path. {image}
EU, it's looking bearish. It needs a push to break S @ 1.1750 and 1.17. It remains bearish as long as R @ 1.1865 holds
Attached Image (click to enlarge)
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  • #7,814
  • Sep 9, 2020 7:01am Sep 9, 2020 7:01am
USDCAD
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  • #7,815
  • Sep 9, 2020 7:41am Sep 9, 2020 7:41am
GU, lets see this area provides S the same it did back in Dec 2019 after the 600 pips drop
Attached Image (click to enlarge)
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  • #7,816
  • Sep 9, 2020 7:45am Sep 9, 2020 7:45am
Quoting shahab8b
GU, lets see this area provides S the same it did back in Dec 2019 after the 600 pips drop {image}
GU, watch this H4 close (15min to go), it is at the right place for a bounce.
Attached Image (click to enlarge)
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  • #7,817
  • Sep 9, 2020 8:08am Sep 9, 2020 8:08am
Quoting shahab8b
USDCAD {image}
USDCAD
Attached Image (click to enlarge)
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  • #7,818
  • Sep 9, 2020 8:17am Sep 9, 2020 8:17am
Quoting shahab8b
GU, lets see this area provides S the same it did back in Dec 2019 after the 600 pips drop {image}
GU
Attached Image (click to enlarge)
Click to Enlarge Name: GU 990.PNG Size: 86 KB
  • #7,819
  • Sep 9, 2020 8:33am Sep 9, 2020 8:33am
Quoting shahab8b
GU, lets see this area provides S the same it did back in Dec 2019 after the 600 pips drop {image}
GU, switched to long, this down leg was overdue for a correction. lets see if we can get a daily close above 1.30.
Attached Image (click to enlarge)
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  • #7,820
  • Sep 9, 2020 8:35am Sep 9, 2020 8:35am
Quoting Coreg2004
{quote} shahab8b, it might be a tough day to trade to the upside but it all depends on an objective ...you know your game... {image} {image}
update...1.30022 level needs to be taken out to stop fall...
Attached Image(s) (click to enlarge)
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Always trade your own plan...I don't provide trading signals.
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