Disliked{quote} Regarding COT, I don't make a lot of use of it (yet), but to do so, I need to see any weekly COT changes in context of the chart I'm looking at. To that end, this is a nice resource I found: https://www.barchart.com/futures/com...al-charts/DX*0 More instruments here: https://www.barchart.com/futures/commitment-of-tradersIgnored
For e.g if you had seen the excel sheet i put in my last post, dollar had reduced the short position massively by almost 12k and increased long position by 2.8K.
Other than Yen (which i don't trust much as it is linked to the stock market as well.) Nzd, chf and euro had high very high reductions in long contracts. But GBP and AUD had comparatively lesser reduction in long contracts (although still very high than usual). So, My assumption is that smart money will be able to predict fundamental analysis a lot better than any retail traders and their decision to long the dollar must be coming with some good reason in the forth coming weeks.
Volatile pairs like GBP/Nzd was an example. NZD had the worst numbers in COT other than yen and GBP was better, so a GBP/Nzd trade long was what i tried and although initially there was a down move , it picked up from 23.6 and heading towards 161.8%. This is also a demo account. i only take 10% of demo in the live.
I hope i am making some sense with this rambling. My trades on nzd/usd , gbp/usd and eur/usd are also in good profits as my TE would suggest but i am disappointed with usd/chf because usd did not move up in accordance with COT in this pair. I usually don't trade this pair after Jordan's peg removal movement some years ago.
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. today i am not expecting fireworks as it might be a calmer retracement day... maybe if the retracement gets over faster, we could still have some fireworks in the later part of the day. today in the economic calendar, we do have some red news on eur which might possibly take the euro up on the retracement but at 18:00 hrs we have Powell and Janet are testifying and there will be a Q&A session, where the volatility increases, so i am crossing fingers that the retracement is over by then and we get a bigger push down. I made a little more than 1K yesterday on live and since the institutional traders have been heavily short of majors and long on dollar, we can expect them to push the prices down against retailers who will be buying the retracements, so please don't be one among the herd.
