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Weekly COT report Analysis + Trade Ideas

  • #10,401
  • Dec 16, 2020 9:35am Dec 16, 2020 9:35am
EURUSD, scalping short. I think it's doing an abc. I posted the levels and possible scenarios before.
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  • #10,402
  • Dec 16, 2020 9:35am Dec 16, 2020 9:35am
Quoting meugampong
{quote} errrrr... C-12, did you see what i see ?.. a fib expansion !!!
What is the excitement about the Fib extensions? I sometimes use them.
Quoting C-12
{quote} Yes, I am going to start using these as target levels and try and prevent early exit.
If you like to learn more I suggest you ask Coreg2004. He is the EW and harmonic pattern expert.

I have had conflicting results using them. So I'm not the best person to guide you.
  • #10,403
  • Dec 16, 2020 9:41am Dec 16, 2020 9:41am
Quoting shahab8b
{quote} What is the excitement about the Fib extensions? I sometimes use them. {quote} If you like to learn more I suggest you ask coreg2004. He is the EW and harmonic pattern expert.
correct me if im wrong sir..
fib expansion is a tool..
we can estimate the target level and maybe can be used as a reference for reversal
  • #10,404
  • Dec 16, 2020 9:44am Dec 16, 2020 9:44am
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  • #10,405
  • Dec 16, 2020 9:48am Dec 16, 2020 9:48am
Quoting meugampong
{quote} correct me if im wrong sir.. fib expansion is a tool.. we can estimate the target level and maybe can be used as a reference for reversal
Yes, but there is more to it. Have you studied harmonic patterns?
  • #10,406
  • Dec 16, 2020 9:50am Dec 16, 2020 9:50am
Quoting shahab8b
USDCAD, possible long setup @ 1.27 (AB=CD), the setup is courtesy of @Vincent1. {image}
Yes, I have posted that setup before. It was in fact @Vincent1 setup. Who shared it with me

Quoting meugampong
{image}
  • #10,407
  • Dec 16, 2020 9:51am Dec 16, 2020 9:51am
Quoting shahab8b
{quote} Yes, but there is more to it. Have you studied harmonic patterns?
i do sir, im still on progress learning ew based ebook you share here sir.. and you told me too to learn ab=cd pattern.
need more time sir to learn it all.. but i will..
  • #10,408
  • Dec 16, 2020 9:52am Dec 16, 2020 9:52am
Quoting shahab8b
{quote} Yes, but there is more to it. Have you studied harmonic patterns?
Yes, the fib expansion tool is used for EW and harmonics using 3 swing points. That one requires a bit more studying.

There are also the standard fib extensions (projections) based on the standard fib retracement indicator (chart below)

I am not an expert in this area, but it's interesting to see.
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  • #10,409
  • Dec 16, 2020 9:55am Dec 16, 2020 9:55am
Quoting C-12
{quote} Yes, the fib expansion tool is used for EW and harmonics using 3 swing points. That one requires a bit more studying. There are also the standard fib extensions (projections) based on the standard fib retracement indicator (chart below) I am not an expert in this area, but it's interesting to see. {image}
Yes, I think all of them are useful if one truly masters them. Otherwise, it will cause headache.
  • #10,410
  • Dec 16, 2020 9:57am Dec 16, 2020 9:57am
Another late sell..
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Le$$ I$ More
  • #10,411
  • Dec 16, 2020 9:58am Dec 16, 2020 9:58am
Quoting C-12
{quote} Yes, the fib expansion tool is used for EW and harmonics using 3 swing points. That one requires a bit more studying. There are also the standard fib extensions (projections) based on the standard fib retracement indicator (chart below) I am not an expert in this area, but it's interesting to see. {image}
sure, very interesting..
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  • #10,412
  • Dec 16, 2020 10:09am Dec 16, 2020 10:09am
Quoting shahab8b
GBPJPY {image}
...

Quoting meugampong
Opening Short Trade, GJ, conluence with big RN 140 {image}
Yes, GJ short @ 140 worked well.
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  • #10,413
  • Dec 16, 2020 10:17am Dec 16, 2020 10:17am
C and M, take a look at Coreg2004 charts. You can learn a lot about that subject.
https://www.forexfactory.com/thread/...8#post13315958
  • #10,414
  • Dec 16, 2020 10:25am Dec 16, 2020 10:25am
C, I was looking at this AUDNZD chart. We should have been more patient with that long trade.
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  • #10,415
  • Dec 16, 2020 10:32am Dec 16, 2020 10:32am
Quoting shahab8b
C, I was looking at this AUDNZD chart. We should have been more patient with that long trade. {image}
Yes it was a W1 level so I guess we can't always expect a zero pip reversal. I bailed on that one and got rid of it. Looks good now.

Quoting shahab8b
C and M, take a look at Coreg2004 charts. You can learn a lot about that subject. https://www.forexfactory.com/thread/...8#post13315958
I've followed Coreg for a while, I need to study his charts more closely. I see a lot of quality work there.

EURUSD - 1.22 looks a bit better now after the supply retest.
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  • #10,416
  • Dec 16, 2020 10:35am Dec 16, 2020 10:35am
Quoting shahab8b
{quote} EU delivered the min expectation of that bullish pattern. I'm thinking this about possible scenarios. The bullish scenario is simple, a retest and continuation. The bearish scenario is the one I like. If it doesn't bounce off on a retest and slices through that TL, it will be a good short trade. The same applies to UCHF. {image}
EU is on the move. So far exactly as expected. Let's see which scenario we get.
  • #10,417
  • Dec 16, 2020 10:39am Dec 16, 2020 10:39am
Quoting C-12
{quote} Yes it was a W1 level so I guess we can't always expect a zero pip reversal. I bailed on that one and got rid of it. Looks good now. {quote} I've followed Coreg for a while, I need to study his charts more closely. I see a lot of quality work there. EURUSD - 1.22 looks a bit better now after the supply retest. {image}
Yes, I agree. AUDNZD 1.05/1.0450 was a classic swing trade. It needed a little room to breathe. But we are trying to do swing trades with 20 pips SL, haha.
  • #10,418
  • Dec 16, 2020 10:41am Dec 16, 2020 10:41am
jumper..
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  • #10,419
  • Dec 16, 2020 10:43am Dec 16, 2020 10:43am
Quoting C-12
{quote} Yes it was a W1 level so I guess we can't always expect a zero pip reversal. I bailed on that one and got rid of it. Looks good now. {quote} I've followed Coreg for a while, I need to study his charts more closely. I see a lot of quality work there. EURUSD - 1.22 looks a bit better now after the supply retest. {image}
The main problem is that box. I don't think it will get through.
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  • #10,420
  • Dec 16, 2020 10:44am Dec 16, 2020 10:44am
Quoting shahab8b
C, I was looking at this AUDNZD chart. We should have been more patient with that long trade. {image}
107.500 interesting level sir..
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