Price is stalling just in front of my limit orders, closed half at market moved SL to breakeven.
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Regarding the COT reports, how do you read the open interest against commercial, L speculators and small speculators etc ? or do I need to ?
Are you just looking at commercial Long/short percentages to give you some sort of bias "filter" ?
Nice to see you holding on to your method. I wanted to ask you something that is unclear to me.
After you get a break of the previous weeks high, you wait for a signal to enter long and the first trade fails, say an inside bar. Price retraces back inside the weekly range and you get another signal to enter long.
Now, do you wait for another weekly break long/short, or do you take the second signal/trade long as though the initial weekly break/direction is still valid ?
In other words, how long is the break/direction still...Ignored
DislikedI am liking the look of this chart. Reasons below:
- COT positioning is extreme (index triggered 76week)
- Price looks like it may have carved out a bottom (higher lows, higher highs)
- Relatively low open interest over the last few months (typically bullish)
Bar1 - First close above recent Weekly High
Bar2 - First bar after Bar1 confirmation to have its high taken out (pin bar also) great trade in retrospect.
If we get a close above Bar4 (or ideally Bar3) then I will be looking to get long after a retracement.Ignored
DislikedBar5 - Closed above Bar4 high. Will consider getting long on a pullback.Ignored