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Weekly COT report Analysis + Trade Ideas

  • #2,641
  • May 8, 2010 9:47am May 8, 2010 9:47am
Check this out :the 5 best-paid Hedge fund managers of the year.


http://www.huffingtonpost.com/2010/0...71.html#s79888
  • #2,642
  • May 8, 2010 11:50am May 8, 2010 11:50am
Quoting shahab8b
Check this out :the 5 best-paid Hedge fund managers of the year.


http://www.huffingtonpost.com/2010/0...71.html#s79888
That's just sick. I hope they give to a lot of charities. Did you watch that video of the trader freaking out with the Dow Jones dip on Thursday that was linked on that page? It's too funny. It's just his voice with a trading screen.

http://www.huffingtonpost.com/2010/0..._n_567453.html


US gold coin sales surge as investors flee risk

* Eagles sales 41,500 so far in May, surpasses normal pace

* Blanchard: Thursday was biggest gold sales day in 2010

By Frank Tang

NEW YORK, May 7 (Reuters) - U.S. gold coin sales surged this week as the anxiety over a euro-zone debt crisis spilled over into the United States and as Thursday's sudden Wall Street collapse shook investors. The U.S. Mint sold gold coins this week at twice its normal pace, and a leading retailer said Thursday was a record day. Physical gold products such as coins and bars are traditionally a safe haven for anxious investors in times of economic and geopolitical crises. On Friday, U.S. stocks turned negative for the year on fears of another credit crisis.

To read further: http://www.reuters.com/article/idUSN0762739220100507
Nothing worth having is easy.
  • #2,643
  • May 8, 2010 12:28pm May 8, 2010 12:28pm
Sahab:

Would you please share with us which platform you use to get such pretty commercial cot charts against currencies?

Thanks

On a different note, my understanding is the world is running out of money . Everyone (except a few) has printed so much that almost all of the heavyweight currencies have lost their appeal. At this moment it looks to me that unless at least one of the big economy addresses the deficit problem, gold is going to be the reserve currency. That means, we like it or not, it is going up.
  • #2,644
  • May 8, 2010 12:40pm May 8, 2010 12:40pm
Quoting shahab8b
It depends on your broker if they offer futures on your platform. Fxpro offers futures on indicies and commodities +oil ,gas and CFD's on 30 companies of DJI. You better check out other brokers too as they might offer other stuffs for instance ODL offers futures ,options and CFD's on stocks.
Thanks for a quick reply Shahab. I use Interactive Brokers for my currency trading stunts. However, I could not find any API that I can use to bring OIL, SP500, FTSE or any other entity into MT4.

MT4 has changed my trading style from minor success to huge success.
I am strictly a divergence pattern trader, no matter what the underlying is, and that alone has made me a winner 70% of the time.

If you or anyone on this board knows how to import other things into MT4, please let me know as it would be a great help for me. Thanks.
  • #2,645
  • May 8, 2010 12:48pm May 8, 2010 12:48pm
Quoting hellopip
Sahab:

Would you please share with us which platform you use to get such pretty commercial cot charts against currencies?

Thanks

On a different note, my understanding is the world is running out of money . Everyone (except a few) has printed so much that almost all of the heavyweight currencies have lost their appeal. At this moment it looks to me that unless at least one of the big economy addresses the deficit problem, gold is going to be the reserve currency. That means, we like it or not, it is going up.
---
I believe Shahab gets his COT charts from timingcharts.com. He has mentioned this in one of his earlier posts.
  • #2,646
  • May 8, 2010 1:35pm May 8, 2010 1:35pm
G/U
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  • #2,647
  • May 8, 2010 1:38pm May 8, 2010 1:38pm
Quoting Patience
That's just sick. I hope they give to a lot of charities. Did you watch that video of the trader freaking out with the Dow Jones dip on Thursday that was linked on that page? It's too funny. It's just his voice with a trading screen.

http://www.huffingtonpost.com/2010/0..._n_567453.html

That was so funny!!!
  • #2,648
  • May 8, 2010 2:05pm May 8, 2010 2:05pm
G/U,

5th wave to the pip, that was easy ,wasn't it?
There is a chance the fall hasn't finished at 61% ,in that case we may see 100% ext at 1.38 before a major correction ,but I prefer the first scenario.
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  • #2,649
  • May 8, 2010 2:29pm May 8, 2010 2:29pm
nice one on that GU shahab8b. To the pip. I booked quite some pips on that one last friday. Considering a long one but not sure yet, have to check the 4 hour and try to find a SL.
  • #2,650
  • May 8, 2010 3:59pm May 8, 2010 3:59pm
E/U

Sell zones:

I think long E/U will be a good trade next week but be aware of the R's in the way up
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  • #2,651
  • May 8, 2010 4:10pm May 8, 2010 4:10pm
G/U

I personally prefer Euro over Cable for the next week, Both pairs are in clear down trend but I prefer selling Cable than Euro ,I think E/U is extremely oversold.

RRR wise I like selling G/U at 1.5125 and E/U at 1.3120 -1.3260
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  • #2,652
  • May 8, 2010 4:23pm May 8, 2010 4:23pm
Quoting jackm1
Thanks for a quick reply Shahab.
MT4 has changed my trading style from minor success to huge success.
I am strictly a divergence pattern trader, no matter what the underlying is, and that alone has made me a winner 70% of the time.
If you or anyone on this board knows how to import other things into MT4, please let me know as it would be a great help for me. Thanks.
That's a bold claim for Div (I assume you meant classic div then it wold be even worse).You need to post your next 10 trades here based on Div so we can calculate the Probability of the Div success. Moreover, you didnt tell us what RRR you use, the less the reward the better the probability. You know Pr & Odds calculation are my things .
  • #2,653
  • May 8, 2010 5:44pm May 8, 2010 5:44pm
Quoting jackm1
Thanks for a quick reply Shahab. I use Interactive Brokers for my currency trading stunts. However, I could not find any API that I can use to bring OIL, SP500, FTSE or any other entity into MT4.

MT4 has changed my trading style from minor success to huge success.
I am strictly a divergence pattern trader, no matter what the underlying is, and that alone has made me a winner 70% of the time.

If you or anyone on this board knows how to import other things into MT4, please let me know as it would be a great help for me. Thanks.
Hey Jack,
Whats the lowest timeframe you would trade divergences? Does it work below H1 TF?
  • #2,654
  • May 8, 2010 5:50pm May 8, 2010 5:50pm
Quoting shahab8b
G/U,

5th wave to the pip, that was easy ,wasn't it?
There is a chance the fall hasn't finished at 61% ,in that case we may see 100% ext at 1.38 before a major correction ,but I prefer the first scenario.
Hi, I just found this thread and was not aware of your previous charts. I tried to figure out on your charts from what starting and ending points you got that fib extention but didn't quite get it. Please could you explain? Thanks.
  • #2,655
  • May 8, 2010 6:00pm May 8, 2010 6:00pm
I have this chart. The FIB ext. 112.8 is from last year's high.
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  • #2,656
  • May 8, 2010 7:50pm May 8, 2010 7:50pm
My take on this weeks COT

There lookes to be acumulation of USD/JPY at around the 94 level. Two things though. This accumulation may have been unwinded during Thurs. debacle and may have actually exacebated the melt down. (info I read somewhere else and I can't find it again).

eur/usd shows short bias above 1.29 and long bias usd/chf below 1.1050

gbp/usd short bias above 1.5150.

very risk averse situation with is bearish usd/yen

thats about all for forex pairs
  • #2,657
  • May 8, 2010 8:43pm May 8, 2010 8:43pm
Gold

ab=cd
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  • #2,658
  • May 8, 2010 8:47pm May 8, 2010 8:47pm
Quoting Oshawa
Hi, I just found this thread and was not aware of your previous charts. I tried to figure out on your charts from what starting and ending points you got that fib extention but didn't quite get it. Please could you explain? Thanks.

1.645 ,1.478, 1.552
  • #2,659
  • May 8, 2010 9:02pm May 8, 2010 9:02pm
U/Chf
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  • #2,660
  • May 9, 2010 1:46am May 9, 2010 1:46am
here is my quick view on EU.
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