Weekly COT report Analysis + Trade Ideas

Took the exact same trade. Good spot

We are moving SL to B/E, +15 pips till now

True but remember I told you about three white soldiers on U/Cad ,we've got it now the trend is up for sure, we should close this one quick

thankyou shahab8b

some harmonic patterns came up on the 30 min

Ian

Hi Ian

Would you mind to be more precise. What kind of pattern is that?

Hi shahab8b

ABCD
Gartley Bearish
Butterfly Bearish

This trial indidicator showed them. I downloaded it from the forexfactory thread
HARMONIC AND CLASSIC PATTERNS
member kor4x has been developing it from post 23 of the thread.


Ian

{ copyrighted attachment deleted by staff }

I am waiting for a pullback to jump in again. I TP-ed my long earlier at 1.04

Crude Oil,

As expected

It shur does draw purdy lines. Must be the holy grail.

closed at 1.0390 (+60 pips)

N/U short has been taken at .7130 ,SL=25 TP=75

Keep SL in place Please , high risk condition.

Does anyone know the FOMC statement?

Do they ave the extended period of time in their language or not?

For immediate release

Information received since the Federal Open Market Committee met in April suggests that the economic recovery is proceeding and that the labor market is improving gradually. Household spending is increasing but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. Business spending on equipment and software has risen significantly; however, investment in nonresidential structures continues to be weak and employers remain reluctant to add to payrolls. Housing starts remain at a depressed level. Financial conditions have become less supportive of economic growth on balance, largely reflecting developments abroad. Bank lending has continued to contract in recent months. Nonetheless, the Committee anticipates a gradual return to higher levels of resource utilization in a context of price stability, although the pace of economic recovery is likely to be moderate for a time.
Prices of energy and other commodities have declined somewhat in recent months, and underlying inflation has trended lower. With substantial resource slack continuing to restrain cost pressures and longer-term inflation expectations stable, inflation is likely to be subdued for some time.
The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period.
The Committee will continue to monitor the economic outlook and financial developments and will employ its policy tools as necessary to promote economic recovery and price stability.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; James Bullard; Elizabeth A. Duke; Donald L. Kohn; Sandra Pianalto; Eric S. Rosengren; Daniel K. Tarullo; and Kevin M. Warsh. Voting against the policy action was Thomas M. Hoenig, who believed that continuing to express the expectation of exceptionally low levels of the federal funds rate for an extended period was no longer warranted because it could lead to a build-up of future imbalances and increase risks to longer-run macroeconomic and financial stability, while limiting the Committee’s flexibility to begin raising rates modestly.

Ah, It's bearish USD

Closed - 5 pips

Went for a Long EG @ .8210 / 17
It sure was a hard drop but I think it found an end here.
Stop just below .82

--> Daily and Weekly S2
--> Significant support here (although we did overshoot a bit it seems buyes joinded in above .82 again)
--> RSI < 30 even on H4 --> and turning up again

T1 .8260 - 75
T2 open (lookin back at the last rallies from down here maybe up to weekly pivot @ .8330

Lets see. first need to clear that UTL of the recent drop.

So u expecting gbpusd going up ?
along with eurusd ? nzdusd ?

Closed: + 10 pips SL triggerd.

Was good all the way to .7025 but I was targeting .7008 for daily S/R level. Oh well......................life goes on

I didnt not say that, I trade only technical, didnt want to lose 25pip so I closed with -5

thanks Shahab
DO you see pound getting pounded ?