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Weekly COT report Analysis + Trade Ideas

  • #10,841
  • Dec 28, 2020 6:06am Dec 28, 2020 6:06am
Quoting shahab8b
{quote} GBPUSD, short trade (AB=CD) plus confluence levels as always. Possible levels. {image}
GBPUSD short trade update. Possible levels.
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  • #10,842
  • Dec 28, 2020 6:09am Dec 28, 2020 6:09am
Quoting C-12
Festive quiz time. Who took this sell trade on EURUSD and why? Shahab8b and M not allowed to answer. Followers of this thread should get this one easy. {image}
Nice going C!
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  • #10,843
  • Edited 6:25am Dec 28, 2020 6:14am | Edited 6:25am
Quoting shahab8b
{quote} Merry Christmas C Yes, that trade was a no brainer, confluence of RN, previous high/supply zone, and AB=CD. Yesterday, I felt this move was not completed. Now there is a good chance we have a short term top in place. I also shorted EU again, sl @ b/e now. I'm not sure about that triangle (on H1/H4) though. It can break out in any direction. UCHF seems to be forming a saucer pattern on H4. AU might be forming a double top. I will be keeping an eye on 0.76/0.7625. {image} {image}
USDCHF long trade. Possible levels.
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  • #10,844
  • Dec 28, 2020 6:22am Dec 28, 2020 6:22am
Quoting shahab8b
{quote} Nice going C! {image}
Haha I was thinking the chances of you not taking that setup were about 0.001%

Let's see if this range can break open. EURUSD has been a tough nut to crack over last few weeks.
  • #10,845
  • Dec 28, 2020 6:23am Dec 28, 2020 6:23am
EURUSD, triangle formation on H4 still ongoing. If EU remains above 1.2150, we will see another high, a break below 1.2150 will open up 1.2050/1.21
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  • #10,846
  • Dec 28, 2020 7:39am Dec 28, 2020 7:39am
Late entry but took 10pips.

I found a lot of material to read. I started reading it.

Thanks shahab8b
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MA provides the market's current direction and strength.
  • #10,847
  • Dec 28, 2020 8:05am Dec 28, 2020 8:05am
Quoting hasib
Late entry but took 10pips. I found a lot of material to read. I started reading it. Thanks shahab8b {image}
hasib, I saw you were interested in EW and harmonic patterns, that's why I pointed you in that direction. EW and harmonic patterns are very useful but they are difficult to master. In my experience, trading based on confluence levels (RN/S/R or S/D, Fibs, etc.) is not only easy to learn, but also very rewarding.
  • #10,848
  • Dec 28, 2020 8:15am Dec 28, 2020 8:15am
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  • #10,849
  • Dec 28, 2020 8:28am Dec 28, 2020 8:28am
Quoting shahab8b
{quote} hasib, I saw you were interested in EW and harmonic patterns, that's why I pointed you in that direction. EW and harmonic patterns are very useful but they are difficult to master. In my experience, trading based on confluence levels (RN/S/R or S/D, Fibs, etc.) is not only easy to learn, but also very rewarding.
Seconded.

I would recommend to get to grips with the S/D and S/R fundamentals and plot the RNs (1.0RN / 0.5RN / 0.25RN and 0.75RN). You can then draw fibs and look for those levels with stacked confluences.

A great example today is the pound. Check out GBPUSD from the open including the pullback. Pay close attention to the 0.75RN, 0.25RN and the 50%.

EW is quite a lot more advanced learning you can study later.
  • #10,850
  • Dec 28, 2020 8:49am Dec 28, 2020 8:49am
Quoting shahab8b
EURUSD, triangle formation on H4 still ongoing. If EU remains above 1.2150, we will see another high, a break below 1.2150 will open up 1.2050/1.21 {image}
EURUSD, long trade (1.22, Fib 38.2). Levels to watch 1.2250/75 and 1.23.
Attached Image (click to enlarge)
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  • #10,851
  • Dec 28, 2020 9:35am Dec 28, 2020 9:35am
Quoting shahab8b
{quote} GBPUSD short trade update. Possible levels. {image}
GBPUSD, added to the short position (confluence of 0.25RN, Fib 38, and S turned R)
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  • #10,852
  • Dec 28, 2020 9:35am Dec 28, 2020 9:35am
Ec up trend + bullish flag + inverted H&SH to many reasons to go long!
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  • #10,853
  • Dec 28, 2020 9:39am Dec 28, 2020 9:39am
Quoting shahab8b
{quote} GBPUSD, added to the short position (confluence of 0.25RN, Fib 38, and S turned R) {image}
GBP/CHF with higer downside potencial on be
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  • #10,854
  • Dec 28, 2020 9:45am Dec 28, 2020 9:45am
Quoting shahab8b
{quote} GBPUSD, added to the short position (confluence of 0.25RN, Fib 38, and S turned R) {image}
Had to be done.

Pairs moving well today, got a few bits running. Looks like the USD is perking up a little.
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  • #10,855
  • Dec 28, 2020 9:48am Dec 28, 2020 9:48am
My eye also are on USD/CHF has made an false brake but looks interesting i'm watching it that was my all for today green pips to you all.
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  • #10,856
  • Dec 28, 2020 9:51am Dec 28, 2020 9:51am
Quoting shahab8b
{quote} GBPUSD, added to the short position (confluence of 0.25RN, Fib 38, and S turned R) {image}
GU, short trade update. Levels to keep any eye on for a possible long setup
Attached Image (click to enlarge)
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  • #10,857
  • Dec 28, 2020 9:57am Dec 28, 2020 9:57am
Quoting shahab8b
{quote} GU, short trade update. Levels to keep any eye on for a possible long setup {image}
These look very bearish to me bro if manages to leave these zone will deep very wild
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  • #10,858
  • Dec 28, 2020 9:59am Dec 28, 2020 9:59am
Quoting C-12
{quote} Had to be done. Pairs moving well today, got a few bits running. Looks like the USD is perking up a little. {image}
Yes. I'm waiting to see if EU starts breaking to the down side. That H4 triangle formation is not a bearish pattern atm.
  • #10,859
  • Dec 28, 2020 10:07am Dec 28, 2020 10:07am
Quoting C-12
{quote} Yes it became clear late last night the cable short at 1.3550 was bit too early so I killed those positions for a few pips. USDCHF looks like a short term low is in place. Next setup of interest is long on USDCAD 1.28 / 61.8, perhaps a touch lower. I did have a couple of attempts at AU 0.76 and NU 0.71 but threw in the towel on those grinders.
Did you take UCAD long @ 1.2825/1.28? It's looking good.
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  • #10,860
  • Dec 28, 2020 10:08am Dec 28, 2020 10:08am
Quoting mizi123
{quote} These look very bearish to me bro if manages to leave these zone will deep very wild {image}
Don't underestimate the power of RN/Fib confluence. Let's see if GU can get through them.
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