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Weekly COT report Analysis + Trade Ideas

  • #10,521
  • Dec 18, 2020 3:00am Dec 18, 2020 3:00am
Quoting Alorente
No. When I posted the charts, I opened shorts on AU. So far so good.
Nice work! I didn't take any AU short but I took a short trade on NU. Do you still have your NU short trades?
  • #10,522
  • Dec 18, 2020 3:02am Dec 18, 2020 3:02am
NZDUSD short trade. Possible long setups.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDH4 1218.png Size: 31 KB
  • #10,523
  • Dec 18, 2020 3:10am Dec 18, 2020 3:10am
Quoting shahab8b
{quote} Nice work! I didn't take any AU short but I took a short trade on NU. Do you still have your NU short trades?
Ýes, call me stubborn...
Observation is the path to discovery.
  • #10,524
  • Dec 18, 2020 3:19am Dec 18, 2020 3:19am
Quoting shahab8b
{quote} I took you up on GU short @ 1.3625. It may be forming a double top on H1 (I don't count on it though considering how bullish this pair has been). Levels to watch for a possible long. {image}
GBPUSD short trade update. We saw a good work by the double top formation on H1. The drop from 1.3625 looks like an abc correction as wave 4. Possible long setup.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1 12 18.png Size: 50 KB
  • #10,525
  • Dec 18, 2020 3:25am Dec 18, 2020 3:25am
Quoting Alorente
{quote} Do you ever sleep?
Haha, that's a good question. It's 4:25am here.
  • #10,526
  • Dec 18, 2020 3:34am Dec 18, 2020 3:34am
Quoting shahab8b
{quote} Did you reload UCAD 1.27? This one is looking good as well. Let's see if it can clear 1.2775 this time. Otherwise, we can switch to short at that level. {image}
USDCAD long trade update. It's looking better now. Possible short setups.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH4 1218.png Size: 28 KB
  • #10,527
  • Dec 18, 2020 3:38am Dec 18, 2020 3:38am
Quoting shahab8b
{quote} GBPUSD short trade update. We saw a good work by the double top formation on H1. The drop from 1.3625 looks like an abc correction as wave 4. Possible long setup. {image}
Why not this alternative wave count?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Wave Count.png Size: 192 KB
Observation is the path to discovery.
  • #10,528
  • Dec 18, 2020 3:44am Dec 18, 2020 3:44am
Quoting Alorente
{quote} I also opened long on UsdChf. Until Brexit is done, I prefer to stay away from EU and GU.
I have a long USDCHF from 0.8825 as well. That diagonal pattern will get resolved at some point one way or the other.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFH4 12 18.png Size: 35 KB
  • #10,529
  • Dec 18, 2020 3:45am Dec 18, 2020 3:45am
Quoting Alorente
{quote} Why not this alternative wave count? {image}
I've thought about it as well. I moved my TP to 1.34. I am watching the PA now.
  • #10,530
  • Dec 18, 2020 3:46am Dec 18, 2020 3:46am
We have the same TP un UsdChf.
Observation is the path to discovery.
  • #10,531
  • Dec 18, 2020 3:47am Dec 18, 2020 3:47am
Quoting shahab8b
{quote} GBPUSD short trade update. We saw a good work by the double top formation on H1. The drop from 1.3625 looks like an abc correction as wave 4. Possible long setup. {image}
I realised last night there was still good liquidity in the markets so took a few positions. I am wondering if GBP is turning bearish here.

Of course closely watching this level.

GCHF 1.20 I took a small loss yesterday, reloaded it.
Attached Image (click to enlarge)
Click to Enlarge Name: GCHF.PNG Size: 30 KB
Attached Image
  • #10,532
  • Dec 18, 2020 3:48am Dec 18, 2020 3:48am
Quoting shahab8b
{quote} I've thought about it as well. I moved my TP to 1.34. I am watching the PA now.
I donīt think they will have a deal today or this year. GU may fall quite a bit.
Observation is the path to discovery.
  • #10,533
  • Dec 18, 2020 3:48am Dec 18, 2020 3:48am
Quoting C-12
{quote} I realised last night there was still good liquidity in the markets so took a few positions. I am wondering if GBP is turning bearish here. Of course closely watching this level. {image}
It might be very well the case. I'm not so hung up on my EW count. I trade the pa.
  • #10,534
  • Dec 18, 2020 3:50am Dec 18, 2020 3:50am
Quoting shahab8b
NZDUSD short trade. Possible long setups. {image}
Yes, I saw some PA I recognised last night. Took a position on it.
Attached Image (click to enlarge)
Click to Enlarge Name: NU.PNG Size: 30 KB
  • #10,535
  • Dec 18, 2020 3:54am Dec 18, 2020 3:54am
Quoting Alorente
{quote} I donīt think they will have a deal today or this year. GU may fall quite a bit.
What do you think about EU?
  • #10,536
  • Dec 18, 2020 3:55am Dec 18, 2020 3:55am
EURGBP - 0.91 a level to watch, not sure if the primary direction has changed.

I also took BE off the 0.90 long from the day before.
Attached Image
  • #10,537
  • Dec 18, 2020 4:05am Dec 18, 2020 4:05am
Quoting shahab8b
{quote} What do you think about EU?
I think 1.2272 was the high for this round. I see it headed to the 1.20 area next.
Observation is the path to discovery.
  • #10,538
  • Edited 4:33am Dec 18, 2020 4:05am | Edited 4:33am
Quoting C-12
{quote EURUSD skimmed our 1.2275. {image}
EURUSD - Got in last night, packed on a few extras earlier. If BE then will reload higher.

GBPUSD - Banked and locked on 1.35. If your broker allows it, there's nothing wrong with hedging a position using solid levels if primary direction is unclear.

Set BE and let market do it's thing.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU.png Size: 29 KB
Click to Enlarge Name: GU.png Size: 31 KB
  • #10,539
  • Dec 18, 2020 5:00am Dec 18, 2020 5:00am
Quoting HiddenGap
{quote} {quote} Slow down, guys. This is like a graduate-level class you're giving here. Pipology 575 The Art and Skill of Trading.
Apologies for not clearing it up HG. Actually it did seem like a lot of technical jargon we were talking. Basically it was all about taking profits.

Counter trend reversal trades - Bank profits at 50/75/100 pips.
Trend continuation trades - Bank profits at 100,200 pips or more.

That was basically it.

While I'm here EURJPY - These setups always bring about a warm satisfying feeling when you catch them.

USDJPY might be rolling as well.
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  • #10,540
  • Dec 18, 2020 6:42am Dec 18, 2020 6:42am
Quoting shahab8b
{quote} Out of that trade. Didn't get a change to scalp long. Possible levels. {image}
EURUSD long trade. Possible levels on the chart, plus 1.23.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1 1218.png Size: 28 KB
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