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Weekly COT report Analysis + Trade Ideas

  • #9,741
  • Dec 4, 2020 4:13am Dec 4, 2020 4:13am
Scalping short EU sl 10 pips
  • #9,742
  • Dec 4, 2020 4:14am Dec 4, 2020 4:14am
Quoting shahab8b
{quote} Haha. I know my entry was sloppy. Do you still have your EURNZD long trade (1.7)? It turned out to be a nice swing trade. {image}
Don't remind me, that one is upsetting me every time I look at it.
  • #9,743
  • Dec 4, 2020 4:18am Dec 4, 2020 4:18am
Quoting shahab8b
EURCAD short trade, it turned out it needed a RN. The setup was combination of wedge pattern, bearish candle, and RN. {image}
I missed this one, great location too for a speedy 100 pips, I longed ECAD last night. Did you grab this one? Seemed like a good confluence play, poss trend.
Attached Image (click to enlarge)
Click to Enlarge Name: ECAD.PNG Size: 34 KB
  • #9,744
  • Dec 4, 2020 4:19am Dec 4, 2020 4:19am
Quoting shahab8b
{quote} NZDUSD, short trade, another simple RN trade. {image}
NZDUSD, short trade update.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDH4 12456.png Size: 29 KB
  • #9,745
  • Dec 4, 2020 4:21am Dec 4, 2020 4:21am
Quoting C-12
{quote} Don't remind me, that one is upsetting me every time I look at it.
Did you close it? You need to be patient with these swing trades. You never know which one will become a big winner.
  • #9,746
  • Dec 4, 2020 4:23am Dec 4, 2020 4:23am
Quoting shahab8b
{quote} Did you close it? You need to be patient with these swing trades. You never know which one will become a big winner.
Yes 100% true. It's been hard for me to adapt from M30-M5 scalping to D1 swing trading. It's getting there slowly.

I took 2 attempts on EURNZD both BE.

NZDUSD - Finally this grinder is out of the oven... TP 0.70
Attached Image (click to enlarge)
Click to Enlarge Name: NU.PNG Size: 53 KB
  • #9,747
  • Dec 4, 2020 4:28am Dec 4, 2020 4:28am
Quoting shahab8b
{quote} EURUSD is going to 1.22-1.24 {image}
I agree, but it may want to test 1.2000 first before moving higher.
Observation is the path to discovery.
  • #9,748
  • Dec 4, 2020 4:30am Dec 4, 2020 4:30am
Quoting C-12
{quote} Great catch and right on the 38.2 of last leg up. I added on the counter here it seems. Let's see. Playing with fire here. EURGBP - Added to this one. Tight SL given Brexit news. {image} {image}
I have the long EURGBP trade as well. I didn't post it yesterday because my entry was sloppy, haha.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH4 5678.png Size: 33 KB
  • #9,749
  • Edited 4:47am Dec 4, 2020 4:31am | Edited 4:47am
Quoting shahab8b
{quote} I have the long EURGBP trade as well. I didn't post it yesterday because my entry was sloppy, haha. {image}
We may have to put you on a PIP - Performance Improvement Plan.

This looks a good one to me, nice PA and confluence on D1 let's see.

Actually all EUR crosses look super strong. I guess EU is heading to 1.22 soon where my pending is sat patiently waiting.
  • #9,750
  • Dec 4, 2020 5:17am Dec 4, 2020 5:17am
Quoting Alorente
{quote} I agree, but it may want to test 1.2000 first before moving higher.
Hi Al, you think 1.2 before 1.22? we're almost there. Looking at the chart, every time EU broke out of a range, never came back to that range. Let's see if this pattern changes.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 124 i.PNG Size: 75 KB
  • #9,751
  • Dec 4, 2020 5:26am Dec 4, 2020 5:26am
Quoting shahab8b
Gold had a good run today. But there are some overhead R {image}
If you are long gold, watch out for these levels.
Attached Image (click to enlarge)
Click to Enlarge Name: Gold 124.PNG Size: 101 KB
  • #9,752
  • Dec 4, 2020 6:08am Dec 4, 2020 6:08am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2020-12-04 at 12.07.11.png Size: 166 KB
Gold Miners looking like they have found resistance already today. Could continue the Downward move as they have been leading the way so far.
Obviously, USD is key here too. So if the recent USD zone holds, funds will buy USD and sell Gold too.
  • #9,753
  • Dec 4, 2020 6:10am Dec 4, 2020 6:10am
Quoting shahab8b
{quote} GBPUSD, long trade. {image}
GBPUSD, added to the long trade. Possible short setup @ 1.35, but be careful as it may break out to the upside.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1 1234r.png Size: 32 KB
  • #9,754
  • Dec 4, 2020 6:14am Dec 4, 2020 6:14am
Quoting shahab8b
{quote} Hi Al, you think 1.2 before 1.22? we're almost there. Looking at the chart, every time EU broke out of a range, never came back to that range. Let's see if this pattern changes. {image}
Yes, but 1.2000 is a huge milestone. I believe it may be tested today before going higher. It all depends on the reaction to NFP.
Observation is the path to discovery.
  • #9,755
  • Dec 4, 2020 6:15am Dec 4, 2020 6:15am
I think EU is getting ready to go to 1.22
  • #9,756
  • Dec 4, 2020 6:18am Dec 4, 2020 6:18am
Quoting Alorente
{quote} Yes, but 1.2000 is a huge milestone. I believe it may be tested today before going higher. It all depends on the reaction to NFP.
The question is if you short EU here targeting 1.20 where do you put your SL?
  • #9,757
  • Dec 4, 2020 6:24am Dec 4, 2020 6:24am
Quoting shahab8b
{quote} USDCHF, long trade. {image}
USDCHF, got stopped out at b/e. The chart is as bearish as it can get. Possible long setup @ 0.88 and short setup @ .90
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFH4 124.png Size: 32 KB
  • #9,758
  • Dec 4, 2020 6:32am Dec 4, 2020 6:32am
USDCHF, monthly chart. We have a good confluence level @ 0.87 (RN, Fib 0.50, and S).
Attached Image (click to enlarge)
Click to Enlarge Name: UCHF 124.PNG Size: 75 KB
  • #9,759
  • Dec 4, 2020 6:39am Dec 4, 2020 6:39am
DXY, we might get a bounce within that box. Note that this is a weekly chart. The box is similar to what we have on EU (1.22-1.24).
Attached Image (click to enlarge)
Click to Enlarge Name: DXy wkl.PNG Size: 96 KB
  • #9,760
  • Dec 4, 2020 6:48am Dec 4, 2020 6:48am
EURUSD, this is what I'm looking at. If it breaks below 1.2140 the chances for a deeper correction increases. A move to 1.22 might get sold as well. And the last (but not the least likely) scenario is going higher to 1.24 ish. Let's see how it plays out.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 124 ty.PNG Size: 118 KB
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