Weekly COT report Analysis + Trade Ideas

Quoting shahab8b

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{quote} Good catch M! We had another FB @ 1.2450. USDCAD 1.2450 long trade (confluence of 1.2450+ Fib 50+ S). I'll keep an eye on 1.25 and 1.2550. {image}

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Quoting meugampong

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{quote} i'm still in short. that LH intrigue me.. when i see calendar.. its cad news.. i set back my SL in to original place. what a spike.. nice bull catch.. el matadore {image}

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Quoting shahab8b

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{quote} Thanks bilal1947. I do look at the correlations. But I always suggest trading each chart based on its own PA. GU can sometimes do its own thing. Regarding EU, this is my interpretation of the current trend cycle. Looking at D1, the bias is bearish against 1.1875/1.19. But there is a chance we have a low in place at 1.1775 considering the bullish divergence. A clear break above 1.1875/1.19 will confirm that. {image}

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Quoting shahab8b

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USOIL, the uptrend TL is broken and retested on D1. The bias is bearish below 75.50. The next targets are 70 and 68. {image}

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Quoting bilal1947

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{quote} Hi Shahab What is your view on Gold, do you think it move against dollar or make it own move now a days. regards bilal

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Quoting meugampong

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Gold, Price looking for Lower High. {image}

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Quoting meugampong

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{quote} i'm still in short. that LH intrigue me.. when i see calendar.. its cad news.. i set back my SL in to original place. what a spike.. nice bull catch.. el matadore {image}

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Quoting shahab8b

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{quote} Good catch M! We had another FB @ 1.2450. USDCAD 1.2450 long trade (confluence of 1.2450+ Fib 50+ S). I'll keep an eye on 1.25 and 1.2550. {image}

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Quoting shahab8b

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{quote} When we talk about the trend, we also need to mention what TF we are looking at. Looking at D1, this is what I consider the current trend cycle on GBPUSD. Basically, we are either in a new downtrend or in a corrective wave. The bias is bearish below 1.39. If we get a clear break above 1.39, that will indicate this structure is indeed a corrective wave. {image} {image}

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Quoting shahab8b

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{quote} It is easier if you trade in the direction of the higher TF. {quote} USDCAD 1.2450 long trade update. Possible short setup @ 1.26. {image}

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Quoting meugampong

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{quote} yes sir. i know.. I know just late anticipate cad pair by news.. i embrace my -25 pips of ucad and Au with -14pips. but i have a good gain with GA,NU, EU GU. final result above 100 pips win for yesterday trade. choppy today.. get pips only from GJ @152 stop out by +25 pips. .. mostly on BE.. lol nice profit for ucad sir i'm waiting also for ucad, EU and AU. a litlle pesimistic for GU back into 1.38 but i put also my pending there. who know we get spike.

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Quoting bilal1947

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{quote} Hi Shahab What is your view on Gold, do you think it move against dollar or make it own move now a days. regards bilal

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Quoting shahab8b

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{quote} That's OK as long as you keep your RRR>2:1 or 3:1. This is a probability game and if you keep your winners larger than losers you will always end up positive (assuming you are using a sound trading strategy).

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Quoting shahab8b

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{quote} I bought gold at the level I highlighted on the old chart which I shared with friends on a private channel. The line chart is my current interpretation. I'm bullish above 1800 till 1870/75. After that I need to see the PA. {image} {image}

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Quoting shahab8b

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SPX shows a topping structure (double top). {image}

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Quoting shahab8b

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{quote} GBPUSD 1.39 short trade. The rally to the key resistance was a good opportunity to take another short trade. I see many traders confuse themselves by overanalyzing the chart. My suggestion is: keep it simple and take no-brainer trades. Levels to watch are 1.38 and 1.3750. {image} {image}

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Quoting shahab8b

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{quote} When we talk about the trend, we also need to mention what TF we are looking at. Looking at D1, this is what I consider the current trend cycle on GBPUSD. Basically, we are either in a new downtrend or in a corrective wave. The bias is bearish below 1.39. If we get a clear break above 1.39, that will indicate this structure is indeed a corrective wave. {image} {image}

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Quoting shahab8b

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{quote} That's a good call @Milan. GBPUSD 1.42 short trade. There is a bearish RSI divergence on weekly chart, suggesting a possible down leg. A break below 1.41/40 and the rising TL will open up 1.37 and 1.35 in extension. {image}

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