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Weekly COT report Analysis + Trade Ideas

  • #10,881
  • Edited 4:37pm Dec 28, 2020 4:10pm | Edited 4:37pm
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}
Yes this one is a bit of a head scratcher. The current top doesn't look very convincing but looks like a distribution phase. I am keeping the upside shakeout potential in mind before we get a meaningful correction.

I will spend less mental energy on this pair until we get some clarity, plus best stay out on the edges.
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  • #10,882
  • Dec 29, 2020 12:38am Dec 29, 2020 12:38am
G morning folks EUR/GBP has developed niceley bullish flag under these "downside" structured channel wich can push price up to 0.92000 level
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  • #10,883
  • Dec 29, 2020 1:37am Dec 29, 2020 1:37am
GU, ATM bullish mood, waiting for retracement for short setup at Fib 61.8 or RN 1.35500
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  • #10,884
  • Dec 29, 2020 4:02am Dec 29, 2020 4:02am
Quoting shahab8b
{quote} GU, short trade update. Levels to keep any eye on for a possible long setup {image}
GBPUSD, added to the short position. Possible levels. We did get a good bounce off 1.3450 confluence zone. GU will be bullish in the short term if breaks above 1.3520 and that TL.
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  • #10,885
  • Dec 29, 2020 4:12am Dec 29, 2020 4:12am
USDCHF, short trade taken based on the confluence level @ 0.89
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  • #10,886
  • Dec 29, 2020 4:17am Dec 29, 2020 4:17am
USDCHF, trend is bearish below 0.8920. The next levels are 0.8825 and 0.88.
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  • #10,887
  • Dec 29, 2020 4:22am Dec 29, 2020 4:22am
EURUSD, trend is bullish above 1.2150. R @ 1.2250/75, above that we will see 1.23.
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  • #10,888
  • Dec 29, 2020 4:27am Dec 29, 2020 4:27am
NZDUSD, trend is bullish above 0.71. Possible levels.
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  • #10,889
  • Dec 29, 2020 4:52am Dec 29, 2020 4:52am
Quoting shahab8b
USDCHF, trend is bearish below 0.8920. The next levels are 0.8825 and 0.88. {image}
Nice catch on the short. I saw it setup last night but unfortunately didn't take it.

How about 0.8850? Seems it's back down at the D1 demand base. It's not the cleanest zone I've ever seen.

I guess the key now is EURUSD and if / when it will make a run for those tops.
  • #10,890
  • Dec 29, 2020 5:21am Dec 29, 2020 5:21am
EURUSD slowly moving towards 1.25 area.
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  • #10,891
  • Dec 29, 2020 6:08am Dec 29, 2020 6:08am
It is probably a little early entry. after getting into the trade I realize it.
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MA provides the market's current direction and strength.
  • #10,892
  • Dec 29, 2020 6:25am Dec 29, 2020 6:25am
seems logical to me.
1. 1.35 RN level.
2. Fib 50%
3. Supply Level
4. Monthly Pivot.
5. Previous day was bearish.
6. Trend line is still holding in M30.

I could have enter more efficiently. Still learning.
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MA provides the market's current direction and strength.
  • #10,893
  • Dec 29, 2020 7:37am Dec 29, 2020 7:37am
Quoting hasib
seems logical to me. 1. 1.35 RN level. 2. Fib 50% 3. Supply Level 4. Monthly Pivot. 5. Previous day was bearish. 6. Trend line is still holding in M30. I could have enter more efficiently. Still learning. {image}
Yes, but you should take these trades the first time they reach the confluence levels. Unless there are some other technical factors that favor the trade.
  • #10,894
  • Dec 29, 2020 7:39am Dec 29, 2020 7:39am
Quoting C-12
{quote} Nice catch on the short. I saw it setup last night but unfortunately didn't take it. How about 0.8850? Seems it's back down at the D1 demand base. It's not the cleanest zone I've ever seen. I guess the key now is EURUSD and if / when it will make a run for those tops.
I think EU and UCHF want to retest the previous the low and high, respectively. There is a good chance they continue the trend. There is a small chance they form a double top/bottom. That remains to be seen.
  • #10,895
  • Dec 29, 2020 7:49am Dec 29, 2020 7:49am
AUDUSD, trend is bullish above 0.75. Possible levels 0.7650 and 0.77.
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  • #10,896
  • Dec 29, 2020 8:07am Dec 29, 2020 8:07am
Quoting shahab8b
NZDUSD, trend is bullish above 0.71. Possible levels. {image}
NZUDSD, long trade. Levels to watch 0.7175 and 0.72
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  • #10,897
  • Dec 29, 2020 8:26am Dec 29, 2020 8:26am
USDCAD, possible setups.
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  • #10,898
  • Dec 29, 2020 8:50am Dec 29, 2020 8:50am
Quoting shahab8b
USDCHF, short trade taken based on the confluence level @ 0.89 {image}
USDCHF, short trade update. Levels to watch.
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  • #10,899
  • Dec 29, 2020 8:53am Dec 29, 2020 8:53am
Quoting shahab8b
EURUSD, trend is bullish above 1.2150. R @ 1.2250/75, above that we will see 1.23. {image}
EURUSD, long trade. Levels to watch 1.2275/1.23

Both EU and UCHF reached the levels I expected to see. Let's see the reaction from here.
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  • #10,900
  • Dec 29, 2020 9:06am Dec 29, 2020 9:06am
Quoting shahab8b
{quote} EURUSD, long trade. Levels to watch 1.2275/1.23 Both EU and UCHF reached the levels I expected to see. Let's see the reaction from here. {image}
EURUSD, short trade 1.2275, never gets old.


P.S. this doesn't mean a trend change. EU is in a very strong uptrend in all TFs. Let's see how it develops.
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