Weekly COT report Analysis + Trade Ideas

Quoting shahab8b

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{quote} EU, the bearish call based on the weekly chart proved correct. It's been a very good week and I hope everyone enjoyed taking these easy pips. Have a good weekend everyone {image}

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Quoting C-12

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{quote} Excellent trading S. I can't help but notice your trading has reached an even greater level over these last 6-8 weeks. You have found the perfect balance of maximising efficiency on trend and counter setups. The confidence you have with your strategy is very inspiring. Well done.

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Quoting Alorente

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Hello Shahab. What do you think of Gold? Do you see further downside or maybe it will rise from here? I am considering opening a healthy position for the medium term. Thanks.

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Quoting shahab8b

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{quote} Cheers C You are right I have been trying to find a balance between trend following and counter trend setups. I noticed we were doing a lot of counter trend setups which was not very efficient. Also, I've been incorporating the bigger picture (based on daily and weekly chart) into my trades. The example was EU short trade that I managed to keep longer than usual. I think I did +25 trades last week. A few of them ended up at b/e, but the winners were mostly +100 pips. The only mistake was closing GU 1.3450 long trade prematurely (+95 instead...

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Quoting C-12

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{quote} We should consider further use of hedging (locking) positions. Rather than exiting at a level, we can take opposing setups and worse case is giving back a few pips but always retaining a core directional position. I know we've touched on this before, but putting it to practice is another thing as it isn't a comfortable thing to do. I have added this into the trading plan this weekend. Hedging might not be everyone's cup of tea.

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Quoting Roszey

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{quote} Hedging is not a good practice. Unless you are deploying the counter hedge type which also lead you into losing some pips.

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Quoting C-12

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{quote} I guess it depends on how the hedging is done. Shahab has a sell on GBPUSD from 1.37 and has both a bull and bear scenario outlined above. Let's say he sees 1.35 as the key level for the uptrend to continue. If it breaks then that opens up much lower targets. If it holds with good rejection it's possibly going to a new high. In this scenario, it might be better to keep short from 1.37 and buy 1.35 rather than fully exit. This provides more options depending on the PA. If he fully exits / buys 1.35 and the level breaks then the trend position...

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Quoting shahab8b

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{quote} Hi Al, I think Gold is forming an expanding triangle (or more specifically a descending broadening wedge according to the encyclopedia of chart pattern by Thomas Bulkowski). I noticed a similar pattern on Gold back in 2008-2009. As you can see it may continue for a long period of time. I think 1750/1700 may provide good long opportunities for long term investment. {image} {image}

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Quoting C-12

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{quote} We should consider further use of hedging (locking) positions. Rather than exiting at a level, we can take opposing setups and worse case is giving back a few pips but always retaining a core directional position. I know we've touched on this before, but putting it to practice is another thing as it isn't a comfortable thing to do. I have added this into the trading plan this weekend. Hedging might not be everyone's cup of tea.

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Quoting hasib

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{quote} But I think TL drawing in the chart with basic understanding will generate much more good results than S&R level{image}

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Quoting meugampong

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{quote} The explanation is ZERO and you don't need to explain to me how you draw TL because it's different from your sentence using basic TL is more profitable than Dmark the problem and intrigue me is your attitude when asking .. be a little smart with the questions you're trying to ask or maybe you want to look smart by asking lots of questions .. the kettle will regurgitate what it contains. I'm done with you ..

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Quoting Techanalyst

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I do have sell position on EURUSD, in profit. Will close it today as soon as the market opens. CFTC reports are out and majority are still in buy and they added more buy positions and took off sell positions. This Wednesday coming, Biden speaks, so that may push USD up a bit a reaction. That means EURUSD could go down a bit more, before going back up again. But will see. Trade safe. {image}

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