For newbies one of the best ways to use the COT is simply to look at the open interest data - possibly over a period of 2 years & relate that to the spot market chart. http://www.cot-report.com explains in more detail. Hope this helps.
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DislikedG'day patience,
yesterday when I saw the news release , I placed some separate 1-lot trades on short A/U and long U/C , collectively 14 lots- the max that I could tolerate for 50 pips negative each as SL and 20% drawdown-
I shouldnt be mad as I collect total 600 pips overall -but I made a huge mistake betting on A/U and U/C , instead I should have bet on E/U or G/U-
Aussie and Loonie are so strong even with USDX soaring they are not losing much groundIgnored
Dislikedhi Patience,
Do you have any positions open?
esp in EUR and cable?
thanksIgnored
DislikedI am stuck in long cable from 1.5550 and currently in a mess.
Another 1 cent down from here and I will get wiped out of my account but I guess I will hedge below 1.5350.
I seriously pressed wrong button on hearing the news (yes i know this is stupid) but then was too stubborn to ride on my losses.
what a joke I am :-(Ignored
QuoteDislikedI am stuck in long cable from 1.5550 and currently in a mess.
Another 1 cent down from here and I will get wiped out of my account but I guess I will hedge below 1.5350.
I seriously pressed wrong button on hearing the news (yes i know this is stupid) but then was too stubborn to ride on my losses.
what a joke I am :-(
DislikedGood news. On friday, GBD/USD showed a hammer ! 1.55 is coming.
I will be back after doing fib analysis. It looks to me we will now have a fib retrace from 1.64 to 1.53.Ignored
QuoteDislikedWe'll see where next weeks pivots come in but 5570-5630 look like high prob sell areas.
DislikedA/U
I think of sell limit order at R ,.9050 & .9120 & .9150-75 (the most important one), with Sl=30 each and RRR 2:1Ignored
Dislikedhi shahab,
nice analyze, i think same as you which this area is really important ( .9160 .9180 ) and there is a great nice pattern (Reciprocal AB=CD ) . if price reach this zone during next week , time increase the probability of decline.
thank youIgnored
DislikedSince I said I was going to give up on AUD and short E/U rallies instead I thought I better take a proper look at the chart and this is what I see. 61.8% fib hit on daily, classic bullish divergence and there is even a doji on the weekly (not to mention the record short contracts on EUR from COT)
Ignored
DislikedG'day patience,
everything is there to give us a correction higher,
IMO, the safest bet on USD weakness for this week is NZDUSD, Kiwi is the best out there to go long
we have an awkward ending diagonal on E/U and U/ChfIgnored