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Weekly COT report Analysis + Trade Ideas

  • #2,841
  • May 17, 2010 8:51am May 17, 2010 8:51am
Short E/J has been taken at 114.75 SL=75 TP=150
  • #2,842
  • May 17, 2010 8:53am May 17, 2010 8:53am
Quoting Patience
Might try for daily pivot. I think Acumen says that probability of hitting daily pivot is 80%. Mine is at 1.2429.

Hi Patience, that's the reason I took it , will add at daily pivot in case it's needed sl=1.2450 for both.
  • #2,843
  • May 17, 2010 8:57am May 17, 2010 8:57am
Quoting shahab8b
Hi Patience, that's the reason I took it , will add at daily pivot in case it's needed sl=1.2450 for both.
Yeah, good call - indices can't hold their gains and gold is going back up. Bring on the fear ....
Nothing worth having is easy.
  • #2,844
  • May 17, 2010 8:59am May 17, 2010 8:59am
Quoting Patience
Yeah, good call - indices can't hold their gains and gold is going back up. Bring on the fear ....

You know when I took the trade, when the DAX futures short trade in my account went green from red!!
  • #2,845
  • May 17, 2010 9:01am May 17, 2010 9:01am
Quoting shahab8b
Short E/J has been taken at 114.75 SL=75 TP=150

+55 pips so far, 1st short has been cashsed , 2nd SL>B/E
  • #2,846
  • May 17, 2010 9:04am May 17, 2010 9:04am
Quoting shahab8b
Short E/U has been taken at 1.2400 SL=50 pips, TP=100 pips

I took profit on half at 1.2365 +35 pips, SL>B/E for the rest.
  • #2,847
  • May 17, 2010 9:07am May 17, 2010 9:07am
Keep in mind the daily candle in E/U, there is a chance we get a reversal candle at the end of the day.We'll see.
  • #2,848
  • May 17, 2010 9:09am May 17, 2010 9:09am
Quoting shahab8b
I took profit on half at 1.2365 +35 pips, SL>B/E for the rest.
Ha, ha - I just did a long ninja on E/U for 5 pips. It makes me nervous when you are trading the other way.
Nothing worth having is easy.
  • #2,849
  • May 17, 2010 9:13am May 17, 2010 9:13am
Quoting Patience
Ha, ha - I just did a long ninja on E/U for 5 pips. It makes me nervous when you are trading the other way.

You shouldn't be nervous , your calls are always better than mine .
Besides with this anxiety and volatility no one is right or wrong as far as your entry and exit is good
  • #2,850
  • May 17, 2010 9:16am May 17, 2010 9:16am
Here we go, equities are rising again , today is tough to short.
  • #2,851
  • May 17, 2010 9:17am May 17, 2010 9:17am
Quoting shahab8b
You shouldn't be nervous , your calls are always better than mine .
Besides with this anxiety and volatility no one is right or wrong as far as your entry and exit is good
Hardly - it's why I keep bottling it on long gold because you have a short bias and I always remember your call over on the A/U thread when Dubai exploded and gold plummeted.

But if the market keeps this volatility up, I'll be very happy. I said to a friend that I wasn't going to trade much this week but I can't keep away
Nothing worth having is easy.
  • #2,852
  • May 17, 2010 9:18am May 17, 2010 9:18am
There is a wierd -90% correlation between Gold and equities ,it doesn't seem to change in the near future.
  • #2,853
  • May 17, 2010 9:23am May 17, 2010 9:23am
Quoting Patience
Hardly - it's why I keep bottling it on long gold because you have a short bias and I always remember your call over on the A/U thread when Dubai exploded and gold plummeted.

But if the market keeps this volatility up, I'll be very happy. I said to a friend that I wasn't going to trade much this week but I can't keep away

Yea, I remember that. I st my TP at 250 pips while it fell 600+ pips while I wasn't arround .

I cant read Gold well these days, you cant tell what's going on there.Remember I told you it will make a new high (it was 3-4 months ago) but I didn't expect that to stay there for this long.
  • #2,854
  • May 17, 2010 9:26am May 17, 2010 9:26am
Quoting Patience
Hardly - it's why I keep bottling it on long gold because you have a short bias and I always remember your call over on the A/U thread when Dubai exploded and gold plummeted.

But if the market keeps this volatility up, I'll be very happy. I said to a friend that I wasn't going to trade much this week but I can't keep away

I think we should open a Hedge Fund, you and I, you as the risk manager as whenever you said I should be cautious and I didn't listen I burnt my fingers.(like that short gold which I lost 4% on one call)
  • #2,855
  • May 17, 2010 9:27am May 17, 2010 9:27am
on AU, Shabab, are you topping up your shorts at 88? i am short from 8860 and am letting it run

Quoting shahab8b
Yea, I remember that. I st my TP at 250 pips while it fell 600+ pips while I wasn't arround .

I cant read Gold well these days, you cant tell what's going on there.Remember I told you it will make a new high (it was 3-4 months ago) but I didn't expect that to stay there for this long.
  • #2,856
  • May 17, 2010 9:30am May 17, 2010 9:30am
Quoting coolshades
on AU, Shabab, are you topping up your shorts at 88? i am short from 8860 and am letting it run

As I mentioned earlier I took shorts at .8850 , targeting .8200 for 4-6 weeks
  • #2,857
  • May 17, 2010 9:30am May 17, 2010 9:30am
Quoting shahab8b
Yea, I remember that. I st my TP at 250 pips while it fell 600+ pips while I wasn't arround .

I cant read Gold well these days, you cant tell what's going on there.Remember I told you it will make a new high (it was 3-4 months ago) but I didn't expect that to stay there for this long.
I do - right again It's getting messy now. Think I'll keep my money and run before I get myself into a mess. Catcha later.
Nothing worth having is easy.
  • #2,858
  • May 17, 2010 10:25am May 17, 2010 10:25am
Closed 2nd short on E/U from 1.2400 at 1.2318 (82+)
2nd short on E/J from 114.75 at 113.55 (120+)

I'm almost done for the week (reached my 4% weekly target on Sun & Mon), may be I take a break. We'll see.

On a separate note, US/UK/Europe equities are about to fall hard imo, try to catch the move on short A/U, N/U A/J N/J Cad/J E/J G/J.
  • #2,859
  • May 17, 2010 11:02am May 17, 2010 11:02am
Quoting shahab8b
Closed 2nd short on E/U from 1.2400 at 1.2318 (82+)
2nd short on E/J from 114.75 at 113.55 (120+)

I'm almost done for the week (reached my 4% weekly target on Sun & Mon), may be I take a break. We'll see.

On a separate note, US/UK/Europe equities are about to fall hard imo, try to catch the move on short A/U, N/U A/J N/J Cad/J E/J G/J.
Fantastic call on the drop!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,860
  • May 17, 2010 11:43am May 17, 2010 11:43am
Shahab, are you using the Action Forex S/R values on A/U or your own calculations? Amy and I had similar H L & C figures that didn't match up to the ones that Action has. It has therefore offset the Weekly pivot and S/R's. Since we've pretty much blown through all Supports at this point it's hard to determine which calculations are right (Action's or my own).
When this baby hits 88 miles per hour, you're gonna see some serious s***.
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