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Weekly COT report Analysis + Trade Ideas

  • #8,281
  • Oct 6, 2020 10:55am Oct 6, 2020 10:55am
Quoting shahab8b
GU, trying to make sense out of this nonsense {image}
GU, short trade update, the rally provided an opportunity to add. A daily close below 1.29 (today or tomorrow) will strengthen the bearish scenario.
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  • #8,282
  • Oct 6, 2020 11:00am Oct 6, 2020 11:00am
Nice work. I must take off my scalping hat off and run these positions. 1.30 was always going to be a key level.. Also AU and NU starting to move.
  • #8,283
  • Oct 6, 2020 11:04am Oct 6, 2020 11:04am
Quoting C-12
Nicely work. I must take off my scalping hat off and run these positions. 1.30 was always going to be a key level.. Also AU and NU starting to move.
Thanks. I mentioned 1.30 is a key level on many occasions. You don't need to figure out the wave count, just trade the key levels. The same on AU and NU, 0.72 and 0.6650 were key levels that I pointed out many times.
  • #8,284
  • Oct 6, 2020 11:07am Oct 6, 2020 11:07am
Quoting shahab8b
{quote} Thanks. I mentioned 1.30 is a key level on many occasions. You don't need to figure out the wave count, just trade the key levels. The same on AU and NU, 0.72 and 0.6650 were key levels that I pointed out many times.
Yes, absolutely on board. I've been aware of the importance of these numbers for a while but only for short term scalping.

For those readers who are wondering why these numbers turn price often on a dime, a good article below. I don't fully subscribe to everything in this but its a good start.

https://www.tradeciety.com/the-order...round-numbers/

Once we realise these levels are deep areas of liquidity we can see why they are very regularly targeted and well worth watching them.
  • #8,285
  • Oct 6, 2020 11:08am Oct 6, 2020 11:08am
Quoting shahab8b
NZDUSD, levels to watch for a possible short setup {image}
NZDUSD, short trade.
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  • #8,286
  • Oct 6, 2020 11:13am Oct 6, 2020 11:13am
Quoting C-12
{quote} Yes, absolutely on board. I've been aware of the importance of these numbers for a while but only for short term scalping. For those readers who are wondering why these numbers turn price often on a dime, a good article below. I don't fully subscribe to everything in this but its a good start. https://www.tradeciety.com/the-order...round-numbers/ Once we realise these levels are deep areas of liquidity we can see why they very regularly targeted and well worth watching them.
Totally agree. It was the same on EU with 1.1750 and 1.18 being key levels. Those levels provided quick 30-40 pips profits without any DD. When you use these levels, and you have a directional bias, you can move your sl to b/e and let them run.
  • #8,287
  • Oct 6, 2020 11:16am Oct 6, 2020 11:16am
Quoting C-12
{quote} Yes, absolutely on board. I've been aware of the importance of these numbers for a while but only for short term scalping. For those readers who are wondering why these numbers turn price often on a dime, a good article below. I don't fully subscribe to everything in this but its a good start. https://www.tradeciety.com/the-order...round-numbers/ Once we realise these levels are deep areas of liquidity we can see why they are very regularly targeted and well worth watching them.
Thanks for the article BTW. I like the format that OANDA used to provide historical open orders. They don't provide that format anymore, do they?
  • #8,288
  • Oct 6, 2020 11:21am Oct 6, 2020 11:21am
Quoting shahab8b
{quote} Thanks for the article BTW. I like the format that OANDA used to provide historical open orders. They don't provide that format anymore, do they?
I believe they stopped it and now repackaged it as a service you have to buy, or they've sold to a reseller.

https://fxssi.com/tools/order-book?p...ll&period=1200

I guess it's probably going to show us what we already know
  • #8,289
  • Oct 6, 2020 11:29am Oct 6, 2020 11:29am
AU was a feature packed setup. Wish I got up earlier for the news to get a tighter entry.
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  • #8,290
  • Oct 6, 2020 11:37am Oct 6, 2020 11:37am
Quoting C-12
AU was a feature packed setup. Wish I got up earlier for the news to get a tighter entry. {image}
That's gonna be a long term trade. It seems the RBA is going to cut interest rates in the next meeting (NOV).
  • #8,291
  • Oct 6, 2020 12:21pm Oct 6, 2020 12:21pm
And perhaps Trump has given our Nasdaq position a swift kick in the right direction.
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  • #8,292
  • Oct 6, 2020 12:54pm Oct 6, 2020 12:54pm
Quoting C-12
And perhaps Trump has given our Nasdaq position a swift kick in the right direction. {image}
Nice going! I bought put options last week. They are looking very good now.
  • #8,293
  • Oct 6, 2020 1:06pm Oct 6, 2020 1:06pm
Quoting shahab8b
{quote} Nice going! I bought put options last week. They are looking very good now.
Put options are a good idea for most.

Since I like to scalp these things catching a bigger move is extra icing on the cake.
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  • #8,294
  • Oct 6, 2020 1:07pm Oct 6, 2020 1:07pm
Quoting shahab8b
{quote} USDCAD, didn't get the up leg to add to the short position. I'll be looking at 1.3250 and 1.32 for possible long setups {image}
USDCAD, long trade.
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  • #8,295
  • Oct 6, 2020 1:18pm Oct 6, 2020 1:18pm
Quoting shahab8b
{quote} EU, this is what I'm thinking atm. if it goes straight above 1.1825, I won't be shorting it. {image}
EURUSD, short trade update, sl to b/e. A break below S @ 1.17 will strengthen the bearish case
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  • #8,296
  • Oct 6, 2020 1:25pm Oct 6, 2020 1:25pm
Nice hold, got my initial scalps and then ummed and ahed about whether to wait for FOMC.. Made the right choice it seems.
Attached Image
  • #8,297
  • Oct 6, 2020 1:25pm Oct 6, 2020 1:25pm
Quoting shahab8b
EURJPY, retesting the H&Sh neckline. {image}
EURJPY, short trade
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  • #8,298
  • Oct 6, 2020 1:32pm Oct 6, 2020 1:32pm
Quoting KevinZeng
{quote} 1.18 has been rejected. Have you traded it?
Hi KevinZeng, you have a nice TE there! some of those trades look awfully familiar! Are you trading solely my trade ideas in your account?
  • #8,299
  • Oct 6, 2020 1:33pm Oct 6, 2020 1:33pm
Quoting shahab8b
{quote} Hi KevinZeng, you have a nice TE there! some of those trades look awfully familiar! Are you trading solely my trade ideas in your account?
Signal service
  • #8,300
  • Oct 6, 2020 1:35pm Oct 6, 2020 1:35pm
Quoting C-12
{quote} Signal service
haha, I hope not. Otherwise, I have to stop posting them.
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