Weekly COT report Analysis + Trade Ideas

Quoting shahab8b

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EURUSD, for now daily remains bullish above S zone @ 1.17 and 1.1750. But I'm wondering if a complex H&Sh pattern is in progress. {image} {image}

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Quoting Bones

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Playing with the software ,Could be thats a 1 ,which I thought before it started .If it goes up next I think it must be a 2 rather than any abc or other correction. 5 wave down could be a gift to the open gap where this all started. For it to be a 4 it's too low already and too sharp ?wave 2 could be to do with any resistance from parliament or the lords to the law he's trying to pass breaking treaty already in place, which I think he will win. {image} {image} {image} {image}

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Quoting shahab8b

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{quote} yea, It could be a wave 1 or wave a. It's difficult to tell atm. {image}

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Quoting shahab8b

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GU, 1.2750-1.28 zone has served as a S/R and a swing level at times. Let's see what happens this time. {image}

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Quoting Bones

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{quote} Yea thats what the software says ,software could be handy for me because I can run through all ideas .Speed up learning. It has counts taking the high. I understand it would never equal the human eye ,as good as Coreg experience say, just I have a bearish bias right now, could be very bearish, but I need to watch that. I'm only really looking at counts that go lower based on the major tl touch , and current monthly today. {image}

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Quoting shahab8b

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{quote} yea that bearish count can get below 1.15. do you think that could be possible from a fundamental point of view?

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Quoting Coreg2004

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Zone for potential Wave-4 busted, so I went back to the ABC pattern on the daily chart, and let's see where it take us... {image} {image} {image}

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Quoting Bones

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{quote} Appreciate the update Coreg ,how would you judge thats a b or 2

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Quoting Coreg2004

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{quote} Bones, by my rules (close inside W-1) my setup for W-4 was busted, so now I go with simple abc correction of the last leg on a daily chart and see where it gets me ...Of course, it doesn't mean GU won't make a new high for instance if you use line charts with closing prices 12345 pattern on the daily chart is still in play...It all depends on the guidelines you have for your patterns...

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Quoting Coreg2004

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{quote} Bones, by my rules (close inside W-1) my setup for W-4 was busted, so now I go with simple abc correction of the last leg on a daily chart and see where it gets me ...Of course, it doesn't mean GU won't make a new high for instance if you use line charts with closing prices 12345 pattern on the daily chart is still in play...It all depends on the guidelines you have for your patterns...

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Quoting Bones

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{quote} Thanks, I wasn't sure if you would say that about the w-4 or if it was in play by the skin of it's teeth ,as always appreciate you're advise.

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Quoting Coreg2004

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{quote} manipulation to own needs... {image}

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Quoting shahab8b

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USDJPY, coiling for a possible breakout. I remain bearish against 106.50 {image}

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Quoting Coreg2004

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Zone for potential Wave-4 busted, so I went back to the ABC pattern on the daily chart, and let's see where it take us... {image} {image} {image}

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Quoting Roszey

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If prices close below 2850 by day ends, then we should see further sell. IMO. {image}

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