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Weekly COT report Analysis + Trade Ideas

  • #5,981
  • Edited 4:26am Jun 3, 2013 3:25am | Edited 4:26am
Quoting shahab8b
{quote} That was a very good setup. You should have sold it @ fib38 (1.5230)
To tell u the truth and since PA Been rejected from the Break up of the Double bottom which been resistance and turned support, i took the opportunity to buy the retest of the Break and the rejection, not to sell it, anyway we will see how it turns out ( Typically a la Shahab ).
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_h1_raw.png Size: 70 KB
Master Your Setup, Master Your self. (NQoos)
  • #5,982
  • Jun 3, 2013 4:39am Jun 3, 2013 4:39am
COT Report Chart for GBP.

http://futures.tradingcharts.com/cotcharts/BP
  • #5,983
  • Jun 3, 2013 11:23pm Jun 3, 2013 11:23pm
Quoting TradeYourEdg
Looking for a long entry {image}
I had the same view as bassramy
GBPUSD turned out well. Let's see if it'll continue up.
Attached Image (click to enlarge)
Click to Enlarge Name: 04 Jun - GBPUSD 4 Hr.jpg Size: 61 KB
Know Your Trading Edge and Trade It
  • #5,984
  • Jun 5, 2013 9:10am Jun 5, 2013 9:10am
AU: good RRR for going long if S @ .9550 holds
Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 15 KB
  • #5,985
  • Jun 5, 2013 9:21am Jun 5, 2013 9:21am
Quoting shahab8b
AU: good RRR for going long if S @ .9550 holds {image}
I don't have the stomach for it....
  • #5,986
  • Jun 5, 2013 9:23am Jun 5, 2013 9:23am
Quoting TradeYourEdg
{quote} I had the same view as bassramy GBPUSD turned out well. Let's see if it'll continue up. {image}
  • #5,987
  • Jun 5, 2013 9:27am Jun 5, 2013 9:27am
Quoting Forexgogo
{quote} I don't have the stomach for it....
I hear you, I'm waiting to see if we get some support there.
  • #5,988
  • Jun 5, 2013 9:52am Jun 5, 2013 9:52am
Quoting shahab8b
{quote} I hear you, I'm waiting to see if we get some support there.
It has broken the support.
  • #5,989
  • Jun 5, 2013 10:10am Jun 5, 2013 10:10am
Quoting shahab8b
{quote} It has broken the support.
AUD unstoppable!! Like a fright train with triple locomotives!
  • #5,990
  • Jun 5, 2013 10:17am Jun 5, 2013 10:17am
Quoting Forexgogo
{quote} AUD unstoppable!! Like a fright train with triple locomotives!
We have to wait for the Daily close to see if it gonna recovers or not, he is way past his ADR so a retrace is in order unless he is still frustrated from the GDP miss, let's see if it gonna follow thru.
Master Your Setup, Master Your self. (NQoos)
  • #5,991
  • Jun 5, 2013 10:30am Jun 5, 2013 10:30am
Quoting bassramy
{quote} To tell u the truth and since PA Been rejected from the Break up of the Double bottom which been resistance and turned support, i took the opportunity to buy the retest of the Break and the rejection, not to sell it, anyway we will see how it turns out ( Typically a la Shahab ). {image}
Update : the 61.8 Fibo is been penetrated Hard after a rejection,and now comes the retest.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_h1_raw2.png Size: 76 KB
Master Your Setup, Master Your self. (NQoos)
  • #5,992
  • Jun 5, 2013 10:31am Jun 5, 2013 10:31am
Quoting bassramy
{quote} Update : the 61.8 Fibo is been penetrated Hard after a rejection. {image}
  • #5,993
  • Jun 5, 2013 10:59am Jun 5, 2013 10:59am
Quoting bassramy
{quote} Surprisingly the nasdaq is holding on, I will wait for other industry groups and sectors to join the party before I dive, it seems like the techs are holding on, anyway I will wait for the retest,reassess and go from there.
Nasdaq, DAX, and the Dow are joining the Party in breaking their support on the missed ADP Non-Farm Employment Change.
Master Your Setup, Master Your self. (NQoos)
  • #5,994
  • Jun 5, 2013 4:57pm Jun 5, 2013 4:57pm
Quoting shahab8b
{quote} I hear you, I'm waiting to see if we get some support there.
How you judge if you got some support there? I mean when you feel safe to go long?
Here is H1 TF. Broke the support but bounce back but still I don't know if it's safe to go long or not.
Thx
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 98 KB
Failure, is a wonderful teacher!
  • #5,995
  • Jun 5, 2013 5:11pm Jun 5, 2013 5:11pm
Quoting mike1349
{quote} How you judge if you got some support there? I mean when you feel safe to go long? Here is H1 TF. Broke the support but bounce back but still I don't know if it's safe to go long or not. Thx {image}
I don't know what shahab is going to say, but I would not touch AUD any time soon. There are many other good pairs to trade....
  • #5,996
  • Jun 5, 2013 7:17pm Jun 5, 2013 7:17pm
Quoting Forexgogo
{quote} I don't know what shahab is going to say, but I would not touch AUD any time soon. There are many other good pairs to trade....

AU is an example.I just want to learn something...I don't trade it either
Failure, is a wonderful teacher!
  • #5,997
  • Jun 5, 2013 7:38pm Jun 5, 2013 7:38pm
Quoting Forexgogo
{quote} AUD unstoppable!! Like a fright train with triple locomotives!
ditto.. the bears are just in full force at the moment..
Know Your Trading Edge and Trade It
  • #5,998
  • Jun 6, 2013 4:23am Jun 6, 2013 4:23am
Quoting mike1349
{quote} AU is an example.I just want to learn something...I don't trade it either
Open ur AUDCHF Daily and see what's happening there at this moment, PA is been rejected from a long term and important support dating from 23-11-2011 and a long wicked hammer is been formed, this is what u should be looking for to safely trade support and resistance, another example is the 5-6 PA Rejection from resistance on the EURGBP D1, that led to the formation of 5 Bearish pinbars or Inverted hammers (Bullish) or Morning stars (Bearish), and look @ the Following PA Behavior.

If you follow these guides and search of these patterns on support and resistances you will become master of reading traders and markets psychology that candlesticks patterns shows superbly on the charts, but then again nothing is 100% like we all know.

Hope it helps,
B.R.
Master Your Setup, Master Your self. (NQoos)
  • #5,999
  • Jun 6, 2013 7:02am Jun 6, 2013 7:02am
Quoting mike1349
{quote} How you judge if you got some support there? I mean when you feel safe to go long? Here is H1 TF. Broke the support but bounce back but still I don't know if it's safe to go long or not. Thx {image}
Hi Mike, I mentioned that AU broke the support. You look at the previous low/high and see if there is S or R when price gets there, that's when you know. In case of AU, we never got any meaningful support, that's why I never took the long trade.
  • #6,000
  • Jun 6, 2013 9:10am Jun 6, 2013 9:10am
Quoting shahab8b
{quote} Hi Mike, I mentioned that AU broke the support. You look at the previous low/high and see if there is S or R when price gets there, that's when you know. In case of AU, we never got any meaningful support, that's why I never took the long trade.
Thanks Shahab,
My exact problem is definition of "meaningful support".
From bassramy post I suppose we should be looking for a "long wicked hammer" or some kind of reversal candle pattern.
What is your preferences to identify a good support and what TF do you use to look for it?
Thanks
Failure, is a wonderful teacher!
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