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Weekly COT report Analysis + Trade Ideas

  • #8,681
  • Oct 28, 2020 5:01pm Oct 28, 2020 5:01pm
GBPUSD, didn't reverse the daily trend. We need a close below. 1.2890-1.29. Let's see how it develops. I'm holding short from 1.30.
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  • #8,682
  • Oct 28, 2020 5:10pm Oct 28, 2020 5:10pm
Quoting C-12
{quote} Yes, 1.34 looks a good next level. In order to create fresh retracement levels, seems it needs to go plenty higher and drag these fibs up (to line up with chart structure). Very happy with trade. I owe you a few beers for putting me on to this way of trading. {image}
USDCAD may get R in that box (1.3360-1.3390). If SPX breaks that double top neckline, 1.34 will be taken out here as well.

I will take you up on that. I thought you were trading like this before.
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  • #8,683
  • Oct 28, 2020 9:54pm Oct 28, 2020 9:54pm
GBPUSD
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  • #8,684
  • Oct 29, 2020 2:56am Oct 29, 2020 2:56am
Quoting shahab8b
{quote}I thought you were trading like this before. {image}
Yes, I guess it's those small tweaks that make a huge difference. Adding these levels provides a framework and very specific levels on the chart to work around.

More confidence in these confluence levels means extra patience and discipline, which was just what the doctor ordered.

Plus using D1/H4/H1 levels means trading higher timeframes and less scalping. Much more relaxing too.
  • #8,685
  • Edited 4:13am Oct 29, 2020 3:57am | Edited 4:13am
GU H1&H2 in downtrend. looking to short the tops.

pending 3016 short for 20pips
Twitter: Rummer_grapes
  • #8,686
  • Edited 4:49am Oct 29, 2020 4:32am | Edited 4:49am
GBPUSD at the moment is quite tricky. Looking at the D1 it held the uptrend line at 50%.

Aside from the JPY it's the strongest of the USD crosses (week on week %). I am going lighter on adding cable shorts until this PA becomes clearer. It will follow the DXY eventually.

CAD, EUR and AUD look like better options if we can get those retracements. USDCAD buys especially interesting.
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Attached Image
  • #8,687
  • Oct 29, 2020 5:18am Oct 29, 2020 5:18am
Quoting Bacco
GU H1&H2 in downtrend. looking to short the tops. pending 3016 short for 20pips
Does appear to be a classic cable stop run at a well stacked level.
  • #8,688
  • Oct 29, 2020 5:23am Oct 29, 2020 5:23am
Quoting Bacco
GU H1&H2 in downtrend. looking to short the tops. pending 3016 short for 20pips
close +20
Twitter: Rummer_grapes
  • #8,689
  • Edited 5:35am Oct 29, 2020 5:24am | Edited 5:35am
Quoting C-12
{quote} Does appear to be a classic cable stop run at a well stacked level.
Plenty of resistances at this level. maybe we are going to take a stroll to 2944 again

1h Close below 2985 would put bears more in control
Twitter: Rummer_grapes
  • #8,690
  • Oct 29, 2020 6:00am Oct 29, 2020 6:00am
Quoting shahab8b
USDJPY, short trade update & possible levels to add to the position in case of a rally {image}
USDJPY, short trade update
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  • #8,691
  • Oct 29, 2020 6:04am Oct 29, 2020 6:04am
Quoting shahab8b
EURUSD, levels to watch, short term looks bearish, plan is to sell the rallies. {image}
EURUSD, short trade update, levels to watch for short setups, also possible long setup @ 1.17
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  • #8,692
  • Oct 29, 2020 6:08am Oct 29, 2020 6:08am
Quoting shahab8b
{quote} EURUSD, short trade update, levels to watch for short setups, also possible long setup @ 1.17 {image}
technically is a nice level to watch out for long, but would u dare with all the lockdowns in europe? i feel like they are going to dump the euro
Twitter: Rummer_grapes
  • #8,693
  • Oct 29, 2020 6:14am Oct 29, 2020 6:14am
Quoting shahab8b
{quote} GBPUSD, possible short setups. {image}
GBPUSD, short trade
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  • #8,694
  • Oct 29, 2020 6:21am Oct 29, 2020 6:21am
Quoting shahab8b
{quote} EURJPY, short trade. {image}
EURJPY, short trade update
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  • #8,695
  • Oct 29, 2020 6:25am Oct 29, 2020 6:25am
Quoting Bacco
{quote} technically is a nice level to watch out for long, but would u dare with all the lockdowns in europe? i feel like they are going to dump the euro
I usually highlight important levels to watch (trying to be unbiased). I don't hedge but it might be a good option if you are short and want to scalp long at the same time.
  • #8,696
  • Oct 29, 2020 6:38am Oct 29, 2020 6:38am
Quoting shahab8b
{quote} I usually highlight important levels to watch (trying to be unbiased). I don't hedge but it might be a good option if you are short and want to scalp long at the same time.
fair enough
Twitter: Rummer_grapes
  • #8,697
  • Oct 29, 2020 6:43am Oct 29, 2020 6:43am
Quoting shahab8b
{quote} Very good trade! Do partial tp, let it run further on the rest That's a classic abc, min target is 133 {image}
GBPJPY, short trade. I had to go short after giving that advice. It's the routine setup you see over and over here, a confluence of round number and fib level.
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  • #8,698
  • Oct 29, 2020 6:44am Oct 29, 2020 6:44am
UCAD, AU and NU commodity pairs stack - would like to add to NU and AU, but need them both to stall out to establish clear levels.
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  • #8,699
  • Oct 29, 2020 6:51am Oct 29, 2020 6:51am
Quoting shahab8b
{quote} GBPJPY, short trade. I had to go short after giving that advice. It's the routine setup you see over and over here, a confluence of round number and fib level. {image}
Excellent setup. Looked at it earlier. I should add a few selected cross pairs onto the menu.

I saw similar on UJ earlier. Nice zone and level combo with trend. A turn is getting close though.
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  • #8,700
  • Oct 29, 2020 6:52am Oct 29, 2020 6:52am
USDCAD, long trade update, sl to below daily low (+120), watch out for that box for possible exhaustion/reversal.
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