Weekly COT report Analysis + Trade Ideas

Quoting bassramy

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{quote} 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...

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Quoting mike1349

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{quote} 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

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Quoting shahab8b

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UCAD: short setup on the chart {image}

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Quoting bassramy

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{quote} I'm already in that trade ripping rewards since the Lower Low been broken and retested, still hesitated about the AU, took profit on the GU and start searching for a short trade, maybe not today because of the first Friday of the Month, with NFP hours away. {image}

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Quoting mike1349

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{quote} Thanks B.R. Do you use smaller TF for early entry or not? I mean for example are you looking for a long wicked hammer in H1 or not only Daily TF? Mike P.S. I hope I got you right regarding 5 bearish hammer in E/GBP.I upload the chart to show them {image}

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Quoting Forexgogo

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{quote} To me, the trend is obvious in most pairs. And I don't go against it -- AUD, JPY, USD, GBP. I can understand people want to catch the turning point, but it is not there yet. Not even close to it I might add. Before the trend turns, a big bump will come up. I just want to avoid getting killed by that. As the stock market is getting shaky and shaky day by day, so is forex. I would do only scalping that takes less than 6 hours -- no trade longer than that for a while....

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Quoting shahab8b

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UCAD: short setup on the chart {image}

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Quoting shahab8b

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GBPCAD {image}

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Quoting Forexgogo

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{quote} I would do only scalping that takes less than 6 hours -- no trade longer than that for a while....

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Quoting Forexgogo

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{quote} My intention was scalping, but.... {image}

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Quoting shahab8b

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{quote} This is from babypips, here is the link to read the rest of it http://www.babypips.com/school/suppo...esistance.html You need to train your eyes and I can say its pretty much subjective. As Jeffery Kennedy said it best: "chart patterns are like beautiful women, classic cars, and great art- you know them when you see them" {image}

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Quoting bassramy

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{quote} I take my trade decisions from a D1 or W1 TF perspective and i time my entries on the H1 using the CCI, R%Williams, stochastic, etc... If i can find an H1 Pinbar that go along with my D1 Trading bias and my other Indicators ( Overbought and oversold and break ) then it will be huge Pinbar on resistance that couldn't break these levels and led to a break to the downside support where the Bulls where waiting to give it another try but also failed to do so on the last resistance. Hope it helps, B.R.

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Quoting mike1349

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Double top on GU TF:H4 + Divergence {image}

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Quoting mike1349

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Double top on GU TF:H4 + Divergence {image}

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