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Weekly COT report Analysis + Trade Ideas

  • #9,321
  • Edited 8:49am Nov 24, 2020 8:34am | Edited 8:49am
Quoting usmanamir942
Gbpusd fibo 61.8 rn1.3300 {image}
It's a level yes, but it might be counter one looking at D1/H4. But this is my bias opinion.

I didn't take it, but if I did, I'd quickly try to get to BE and see what happens. It wont need much room.

I preferred the short above but didn't get entry.
  • #9,322
  • Nov 24, 2020 8:36am Nov 24, 2020 8:36am
Quoting shahab8b
I've been receiving too many pm's asking questions. Many of them require posting charts. So I am gonna remove the posting restriction (a yellow badge was required) for a short period of time. So traders can post their questions. C-12 and I will try to answer them.
As Always, thanks for your kind heart.
  • #9,323
  • Edited 9:10am Nov 24, 2020 8:43am | Edited 9:10am
Quoting usmanamir942
Gbpusd fibo 61.8 rn1.3300 {image}
GCHF - This was one I found on a one of my scanning rounds. I had an alert on 1.22 but spotted the PA and divergence ahead of it so took the plunge.

Now I am close my leverage limit so need to start running some of these trades off.

Gold approaching $1,800. Alert triggered.

NCHF - looks like PA is starting to cook on this one too.
Attached Image (click to enlarge)
Click to Enlarge Name: GCHF1.PNG Size: 39 KB
  • #9,324
  • Nov 24, 2020 9:24am Nov 24, 2020 9:24am
Quoting C-12
{quote} GCHF - This was one I found on a one of my scanning rounds. I had an alert on 1.22 but spotted the PA and divergence ahead of it so took the plunge. Now I am close my leverage limit so need to start running some of these trades off. Gold approaching $1,800. Alert triggered. NCHF - looks like PA is starting to cook on this one too. {image}
I thought we posted that GBPCHF short setup. But I cannot find it.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHFH1 ert5.png Size: 38 KB
  • #9,325
  • Nov 24, 2020 9:28am Nov 24, 2020 9:28am
Quoting shahab8b
{quote} I thought we posted that GBPCHF short setup. But I cannot find it. {image}
Yes this is become a problem. Too much opportunity. I can think of worse problems to have.

It seems every time I do a scan round I find something interesting.
  • #9,326
  • Nov 24, 2020 9:28am Nov 24, 2020 9:28am
Quoting usmanamir942
Gbpusd fibo 61.8 rn1.3300 {image}
You should take it closer to the RN to maximize your RR using a smaller SL and less DD.

Quoting shahab8b
GBPUSD, possible short setup @ 1.34 and long setup @ 1.33 {image}
That GU long setup @ 1.33 worked well
Attached Image (click to enlarge)
Click to Enlarge Name: GU 11245.PNG Size: 82 KB
  • #9,327
  • Nov 24, 2020 9:30am Nov 24, 2020 9:30am
Quoting C-12
{quote} Yes this is become a problem. Too much opportunity. I can think of worse problems to have. It seems every time I do a scan round I find something interesting.
Yea, we should limit it to 20 pairs. This can get out of control.
  • #9,328
  • Nov 24, 2020 9:34am Nov 24, 2020 9:34am
Quoting shahab8b
{quote} Yea, we should limit it to 20 pairs. This can get out of control.
I think the CHF pairs can get the axe apart from GBPCHF and CHFJPY the others don't seem to respect the RN's as cleanly. I guess they almost bordering on the exotic side of things. Perhaps some of the CAD crosses are not that worthwhile either.

Overall the bigger cross pairs like EA,EN,GA,EJ,GJ etc have been a superb addition so far. Barely looked at EU and GU today with so much better stuff elsewhere.
  • #9,329
  • Nov 24, 2020 9:37am Nov 24, 2020 9:37am
Quoting shahab8b
NZDUSD, I took a short on this pair and got stopped out at b/e. Looking to go short again. The structure looks like an ending diagonal. Possible short setup @ .70 {image}
NZDUSD, short trad update, moved sl to b/e
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDH1 11243.png Size: 35 KB
  • #9,330
  • Nov 24, 2020 9:42am Nov 24, 2020 9:42am
EURJPY - This one seems to be gathering pace as it goes. TP extended.

For anyone new here looking to learn, this one might be the textbook setup to print out and put a frame around it.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ.png Size: 43 KB
  • #9,331
  • Nov 24, 2020 9:44am Nov 24, 2020 9:44am
Quoting C-12
EURNZD - Another BRN at 1.7000. These ones do seem to pack a little extra umph if you catch them. Break even set. {image}
I used your long EURNZD setup @ 1.7. It has some solid overhead R. Let's see how it plays out.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDH1 1124.png Size: 27 KB
  • #9,332
  • Nov 24, 2020 9:51am Nov 24, 2020 9:51am
Quoting C-12
EURJPY - This one seems to be gathering pace as it goes. TP extended. For anyone new here looking to learn, this one might be the textbook setup to print out and put a frame around it. {image}
Yea, you nailed that trade. Possible short setup on EURJPY coming @ 125
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYDaily 345.png Size: 35 KB
  • #9,333
  • Nov 24, 2020 9:51am Nov 24, 2020 9:51am
Quoting shahab8b
{quote} I used your long EURNZD setup @ 1.7. It has some solid overhead R. Let's see how it plays out. {image}
This is really just a straight play on this RN.. The trend looks a bit long in the tooth and the BRN would be a good place to look for that trend to change.

I have just noticed GBPUSD off that 1.33 level is working out...

See this just shows that you don't need much complex price reading knowledge to trade this method. It may actually be a net negative.
  • #9,334
  • Nov 24, 2020 9:56am Nov 24, 2020 9:56am
Quoting shahab8b
GBPUSD, possible short setup @ 1.34 and long setup @ 1.33 {image}
GBPUSD, long trade. I'm keeping it purely mechanical today.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1 12334.png Size: 37 KB
  • #9,335
  • Nov 24, 2020 9:58am Nov 24, 2020 9:58am
Quoting shahab8b
{quote} GBPUSD, long trade. I'm keeping it purely mechanical today. {image}
Great choice. I sat pondering that long for 10 minutes and my analytical brain said no...

Let's look at what we had - D1 uptrend, H1 demand zone, 1.33 RN and 61.8 + 50% fib off 1.32 low.

I would say that is a pretty stacked deck.
  • #9,336
  • Nov 24, 2020 10:01am Nov 24, 2020 10:01am
Quoting C-12
{quote} Great choice. I sat pondering it for 10 minutes and my analytical brain said no...
I wasn't going to miss that after my big miss last week (GU 1.32) and yesterday (EU 1.18).
  • #9,337
  • Nov 24, 2020 10:05am Nov 24, 2020 10:05am
USDJPY short looks interesting.
Attached Image (click to enlarge)
Click to Enlarge Name: UJ 1124 5.PNG Size: 127 KB
  • #9,338
  • Nov 24, 2020 10:08am Nov 24, 2020 10:08am
Quoting shahab8b
{quote} I used your long EURNZD setup @ 1.7. It has some solid overhead R. Let's see how it plays out. {image}
Hello, have you waited for a double minimum and then passed the RN 1.70 to enter?
Thank you
  • #9,339
  • Nov 24, 2020 10:10am Nov 24, 2020 10:10am
Quoting shahab8b
USDJPY short looks interesting. {image}
I was just looking at that at the 50% as the DXY is now rolling over. Downside it there's not much space to the H1 demand zone.
  • #9,340
  • Nov 24, 2020 10:13am Nov 24, 2020 10:13am
Quoting gf233
{quote} Hello, have you waited for a double minimum and then passed the RN 1.70 to enter? Thank you
The plan was to go long @ 1.7, so I was looking at the chart and I saw a possible double bottom forming and I pulled the trigger.

With this method, you don't look at the charts randomly to find a trade. You wait for your levels. Then you focus on the execution.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDH1 11245.png Size: 28 KB
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