BTW…thanks FE and Philip. I just downloaded that free book you guys suggested. I’m excited about it.
I need to get my head wrapped around this stuff. Like you all!
Thanks!
We’ll be talking.
Ok. This one is for Rookie. (you must have a lot of catching up to do here with the posts)
I’ve been thinking about what you said. We do need to put into perspective (compile) (reconcile) these 2 things. The trend. The news. Which is affecting which? Do we get trends because of the data? Or is there something to say about when the data is good it will continue to be good? (trending) . We do know that trends change when the data coming out disagrees. It’s called a catalyst. So the question is which is more important. Or I guess we can just be very cautious, conscientious, about that factor. We can use the news (data) as a confirmation tool.
Hmmmm…yeah! How about that! We can have our trend determinations in place, and when the data comes out and agrees with the trend, then we stay in, or enter in the trades. And likewise for the contrary, get out quickly.
What do you think?
Mike
I just read the book and it has nothing new to add I’m afraid. The only thing new was its focus on using intermediaries as a source of commercials and managed funds as non-commercials, and I already did that anyways so it wasn’t so useful.
This looks like it will be a losing week for me too.
- The gold short I was looking for this week only arrived earlier today and I’m reluctant to take it as I don’t day trade. I’d rather wait for the COT report and look for buying opportunities next week.
- I took a short on the AUDCHF earlier in the week and lost 28 pips. However the weekly bar is currently a doji and the previous bar was a shooting star, so I’m still looking for a down move in this pair since it compliments the COT report.
- I would have broken even for this week hadn’t my USD/JPY trade capitulate after some very bearish Fed remarks and poor data. I’m break-even in the trade itself and will look to hold this trade for next week. It broke the 200 dma on Wednesday and today, imo, was simply a test of that moving average which is supportive so far. This is a very bullish sign for me.
So my weekly result is between -26 and -30 pips.
See you guys on the weekend for the analysis.
Hi peterma,
well I guess this positive scenario unfortunately did not occur what we expected. Came home now and what do I see…:
Ukraine: We destroyed much of Russian military convoy - CNN.com
Ukraine Says It Destroyed Part of Armed Convoy From Russia - Bloomberg
Kiev says forces destroyed Russian armour inside Ukraine | Reuters
That was a Friday afternoon market sentiment…
Hi Philip,
Thanks for the comment about the book/document. At least I know what to expect when I read it. Well, I guess free material is very often not so great quality.
Your summary is also interesting and good as you wrote about your week and what you expect to happen.
Talk to you tomorrow
Hi guys,
2 great analysis from Pipcrawler and we can all see how difficult it is to interpret market sentiment currently:
EUR/AUD & NZD/CHF Trade Update
In times when we lose we should not forget that the current exreme situation makes it tough for everyone to trade. Of course it does not make us happy that we lose in a tough situation as we lose, but maybe it confirms to stay a bit away from the market is the right decision.
Yep, and Russia says it is a fantasy - I suppose the fog of war, somewhere in there lies the truth.
Nato have confirmed that Russian vehicles did incur last evening, but they have no confirmation of any clashes, Russia are denying any incursion or vehicles being destroyed.
The good news is that the Russian and Ukraine foreign ministers are to meet this Sunday, not long ago the Russian govt refused to recognize the Ukranian govt as legitimate, when the Russian FM was asked by journalists would he meet his Ukranian counterpart he answered …who?
Update: just watched a journalist choose at random one of the 300 aid lorries - it was full of bottled water.
Angela Merkel telephoned Putin this evening urging a de-escalating of the crisis - I would say that this Sunday’s meeting in Germany could be crucial.
A little risk chart reflecting maybe the above scenario:
Source: Bloomberg
Stocks fall bonds rise. The risk is off once again. Thanks peterma for the update. We should be keeping close eye on any further developments.
I’m again doubting my EUR/AUD setup thanks FE, I checked the link. However NZDCHF could benefit if sundays meeting doesn’t resolve anything and if tensions worsen.
The news, major economic data releases really do change the whole game whether or not we were right about our COT data analysis. We can’t depend on COT solely as its a few days old data though it is still a great guide.
I think what you’ve suggested using news as a confirmation for trades that we’re in or planning to get in is a good idea especially if we’re planning to stay in long. Either way its a good idea, I will try to go about my trades that way. I know I can’t keep avoiding the news. I know there’s a way around to this. Maybe this is it. We’ll see how it goes next week :33:
I’m already very comfortable with my trend trading method, it works for me. But my only obstacle was the news, changing market sentiment during weeks as sessions carry on.
This is a very interesting COT report for me as I think many trading opportunities present themselves. I can’t wait for the analysis of non-commercials to get a more complete picture.
The highlight for me is that commercials have sold Swiss this week (a bullish sign). They are also selling it from an extreme position of buying. So I’m looking to buy CHF across the board the coming week, if a technical opportunity presents itself.
The Yen has also been sold from an extreme position as well and that is a bullish sign. So I might look to take off my USD/JPY trade but will look for a small profit.
Gold has been sold extensively as well. So at the current levels of 1305 I might look to buy it and sell at 1315 (equivalent of 100 pips). This would actually be a day trade.
Other currencies are as follows: Canada should be pulling-back and so I would rather buy it off the dips. The same applies to AUD, NZD and USD.
Non-reportables as a filter.
The notable thing for me is they have added to their CHF shorts. To me all the sorts of signs I need from the CHF to indicate a significant pull-back/reversal is in place.
Fading non-reportables is a good idea if they contradict the position of producers. This occurs, in addition to Swiss, in USD (they added to their longs), NZD (added their longs), Euro (they bought the Euro this week but producers increased their buying.)
My in-focus trades for next week:
Shorting USDCHF.
Shorting AUDCHF.
Shorting USDJPY on intraday basis.
Shorting AUDJPY
longing XAUUSD (on an intraday basis. Although I might look for longer-term buying opportunities if Fed’s minutes are dovish.)
Shorting NZDCHF.
Hi Philip,
you must be young and full of energy. You are at the computer at all times of the day. I do not see the “trend” in which part of the world you can be 
You were the fastest with the analysis, not even that but you already posted your trade ideas. Great and thanks!
I do first my trading journal as I did not do it too much lately so I do it backwards. Then I will start the work with COT and reading the book further on.
I read your approach. I am really confused at this moment with USD/JPY. I have still some long positions with small losses but I am unsure what to do with them this moment. The COT clearly signals for me that we see an extreme now or soon, as you say. However fundamentals just do not confirm it. Japan is really really really week and USA is rising. So my sentimental and fundamental bias is against each other. Maybe I try to bring my trades into “green”, close them and sit outside on the pair.
CHF is also interesting what you wrote. I will pay attention to it in the report as my bias is for CHF basically always the same as for the EUR and for EUR I have bearish bias.
With comms I am very cautious as they tend to lose a lot within no time in this risk off environment. For [I]Mike[/I] I also have here something to say. I like these statistics between Majors and Comms. There is only one disadvantage of the analysis. It does not show by “how much” is one side better than the other. What I mean here, maybe majors win a day big time because risk off sentiment and in the statistics it is only with a normal lets say +10. On the other side we can assume that risk is on again the next day and Comms start slowly to regain their losses. However what they lost in 1 day, they regain in 3 days. In these 3 days we can say they make 3x+10=+30 point in Mike’s ranking. The ranking therefore shows the comms are better with +20, although we know that price level is the same as before. I know that every analysis have disadvantage, never heard one that has no disadvantage. Just my thoughts.
Good that you follow gold. I do not but if it is near to 1200$ and silver near to 18.80$ please say it for me! These are my levels of interest. Silver is also not far away from this level. I do not get how come the value of gold does not increase in such wartime.
I will post my findings later.
Can’t wait to read your analysis as I do need some perspective.
Unfortunately I do not trade silver as its value per pip is too big for my account. The only time I will look to trade it is when producers are net long in Silver.
Looking at the changes in Silver in both Producers and managed money suggests further downward movement this week which is always a good opportunity to buy if you have an account to hold.
As for Gold, I think smart money was cleaning out stops. There is no doubt in my mind this will take place again this week before we see a move up. Its very easy to see the range of gold between1290 to 1317. Intra day trades are usually buy at 1305 and sell at 1317.
I agree with you on USDJPY. I will also look to take 20-30 pips compared to the 70 I was looking for and get out. May be the decline attributed in the report would present a good buying opportunity. I would love to buy it @101.2-101.4 area. I would even hold this trade to the end of the year waiting for that 105 level.
I like your idea about Mike’s statistics. I hope he can think of ways to counter those issues as I really like those stats.
Hi guys.
Well here we go with some stats.
I’ll get this out of the way. Bottom line = -4.2%. I did make quite a bit back on the last day. (thanks GBP for the quick ride up). And now it’s time to move on. As I am learning. (live and learn)
What is it I’m learning you ask? (not much it seems, but at least the experience is developing more and more)
I’m trying to determine which way to go. Either stay in the longer term trades longer. With stop losses wider. Become more patient. Or take the profit when it is there, and regroup and get back in. Rookie, we seem to be wrestling with that issue. Also I’ve been pondering very much the Major/Comm side of it all. I should incorporate that with the trend determination. Like find what the bias is in M/C, and just take the ++ trending ones against the other side of the net.
I’m thinking.
I’ll give you guys the facts about what happened this week. So very interesting.
Comms took the week +18.
CAD strongest, across the board. With +632 total pips (weekly candle) against everyone. (I wasn’t even aware of it as it unraveled)
Strongest Comm = CAD
Strongest Major = CHF (+307 pips)
Biggest mover = GBP (-913 pips)
Comms: (strength comparison)
CAD
AUD
NZD
Majors:
CHF
USD
EUR
JPY
GBP
And here we go with the trend changes. I know guys, it’s all about perception, so this is just my take.
Last week: USD up against: EUR, CAD, NZD.
JPY up against: EUR, CHF, NZD.
This week: USD up against: EUR, GBP.
CHF up against: EUR.
CAD up against: GBP.
Notes:
EUR/CHF—Wow. Broke major support level. I think this means something. I would venture to say that the CHF is the one moving that. Maybe on Fri. the risk off all went to them. I have been watching the CHF climb the charts lately, but didn’t think much of it. So, there is SOME kind of trend with them lately, positively.
GBP…dropped off the map. Been seeing them drop in many different standings. The question is this the beginning of a major trend change, or is this such a huge correction? They are slated to be the first Major currency to raise interest rates. And that would make sense for them to drop much, to get some yardage later on this year. (I know there is so much talk about this with the analysts).
Last weekend, at this time, the Majors were in control. USD was boss. Then the week started.
Mon. Tues. Wed. Thurs. Fri.
CAD GBP AUD AUD CHF
GBP AUD NZD CAD JPY
USD CAD CAD NZD CAD
JPY USD CHF CHF EUR
CHF CHF USD USD NZD
EUR JPY EUR GBP AUD
NZD EUR JPY EUR USD
AUD NZD GBP JPY GBP
It looks like it was a battle between CHF and the Comms. Look at the CHF. They were the strongest Major on wed, thurs, AND fri. USD was no real help to the Majors. I’m sure there’s a reason that explains the CHF. (don’t look at me, find someone smart).
Anyway…all that is so very interesting to me.
I’ll be in touch this weekend, with my determinations about the coming week.
And can’t wait to hear from all you guys!!
Mike
Hi Mike,
good analysis of your trades and current standing. I like that you wrote which currency finished with how many pips. It is maybe even better than: Comms vs. Majors +18 for Comms I think.
I think it was good for you that before last day you decided to go with majors and because of Russia on Friday afternoon you got some “not expected” help this time and managed yourself up from -6.0% to -4.2%. That is a good jump in one day.
For all of you with EUR/CHF. I am not sure if you guys read some stuff about it.[I] You should not expect in this pair big changes![/I] The Swiss National Bank has the goal of following the EUR with basically very little divergence. If it does not follow then their plan does not work so good. Maybe in risk off/on environment changes you guys see a trend. But this should not be the normal situation. This pair is actually good for range trading. If you research a bit you can make good money with it as it is downtrending and should climb back. Unfortunately I do not remember if the goal is to hold it at 1.22 or at 1.24. Please keep it in mind with EUR/CHF! Look at the daily charts in the last year. The pair moved within a 300 pips range. For GBP it is a weekly move.
I do then also first my trade analysis soon from my own trades.
[I]I continue now a new series here, I write here down my own thoughts about my first COT book as I read it. I write down anyway always for myself what I think is important to look it back later, so I decided why not to post it here. Important: I write down the own words of the author, in the right order as it comes in the book. However I will not structure the different thoughts and do not write down which pages they were. I just want to mention the sentences which I find important for myself. This is not the same value for you as reading the book (hopefully you will all read it when you have the time for it), however it is better than nothing. I also make my own summary in the end of each post.[/I]
[B]Cedeless Oranges[/B]
Variously called “international” or “food and fiber” or “softs”, the six commodity markets of orange juice, cocoa, coffee, sugar, lumber, and cotton often get lumped together. There also is a commodity index to add to the mix; that makes seven. Many of these commodity markets are dominated by trade interests (commercials). If there were ever a set of markets where some technical indicator of the supply and demand balance was badly needed, these would be them. Fortunately for the clued-up, the COT report frequently finds opportunities in these markets before they become newspaper headlines.
[I]Continuous Commodity Index[/I]: the index has had more name changes than Elizabeth Taylor, but it has stood the test of time as an indicator of market turns in physical commodities. It is about the only commodity index that is not dominated by the oil sector. The trouble is that the CCI is not traded heavily enough to earn a listing on the COT Report.
[B]Now You CIT, Now You Don’t[/B]
Although this new subset of the Options and Futures Combined COT report is just six month old as this book is written, and it carries only 12 markets (CBOT Corn, CBOT Wheat, CBOT Soybeans, CME Feeder Cattle, NYBOT Cotton, CME Lean Hogs, NYBOT Sugar #11, NYBOT Coffee, CBOT Soybean Oil, KCBT Wheat, CME Live Cattle, NYBOT Cocoa), there are a few useful scraps of information to be gleaned. The total notional value is nearly $34 million (2007), making the commodity index traders the largest player on the long side of these physical commodities. They hold larger positions than the large speculative funds! Most of this-long only “investment” in commoditites is not made by the commodity funds themselves, but passes through swap dealers, who in turn lay off their risk by buying futures.
The report is being released under a two-year pilot program, so there is no guarantee of expanded (or even continuing) coverage.
[I]→ as of August 2014 the report continues with 13 markets (CFTC Commitments of Traders Supplemental - CIT (Combined))[/I]
[I]Summary[/I]: it is hard to say something about the markets of the last chapters as I do not have too much experience in them. It would be great to have someone in the thread who follows these markets. I have never read on any website or forum someone following the [I]COT-Supplemental Report[/I]. It does not mean that it is not useful, I just never heard about it. I checked the CFTC website if this report still exists (it does in fact), you can see the link above. If you are interested, check it out. There is only one format of it, in the Futures-and-Options-Combined format.
Hey guys.
Ok. I’ll explain how I exactly come up with the split. You decide for yourself if you think it needs modified, or is not a good gauge. And that’s what it precisely is, a gauge.
I’ll take this past week of how I come up with it.
Monday Tuesday Wednesday Thursday Friday
CAD +7 0 0 GBP +7 0 0 AUD +7 0 0 AUD +4 0 3 CHF +7 0 0
GBP +5 -1 1 AUD +4 -1 2 NZD +6 -1 0 CAD +3 0 4 JPY +5 -1 1
USD +3 -1 3 CAD +3 -1 3 CAD +4 -2 1 NZD +2 0 5 CAD +4 -2 1
JPY 0 -2 5 USD +2 -1 4 CHF +2 -2 3 CHF +2 0 5 EUR +2 -1 4
CHF 0 -2 5 CHF +1 -2 4 USD +2 -3 2 USD 0 -2 5 NZD +1 -4 2
EUR 0 -3 4 JPY +1 -3 3 EUR +2 -3 2 GBP 0 -2 5 AUD +1 -4 2
NZD 0 -3 4 EUR +1 -4 2 JPY +1 -6 0 EUR 0 -3 4 USD 0 -4 3
AUD 0 -3 4 NZD 0 -7 0 GBP 0 -7 0 JPY 0 -4 3 GBP 0 -4 3
So, Monday: Added up I got: Comm = +7 and -6. That’s the first column added up and the second column added up. I don’t count the even (no change, 10 pips and under) last column.
That boiled down = +1.
Now, the Majors for Monday. Added up is +8 and -9. Boiled down = -1.
So, we have the Comms +1.
That was (is) my original computation. That’s counting total pairing against each other. Then FE, you had a good thing about finding the split NOT counting within each camp. Let’s do these numbers. (monday only)
CAD +4 0 (against majors)
GBP +2 -1 (against comms)
USD +2 -1 (against comms)
JPY 0 -1 (against comms)
CHF 0 -1 (against comms)
EUR 0 -1 (against comms)
NZD 0 -2 (against majors)
AUD 0 -2 (against majors)
Comms = +4 and -4 equals 0.
Majors = +4 and -5 equals -1.
So, that boiled down to each other is the Comms +1 against the Majors. Which is the same thing. That’s the shake out. And I did so much back testing on that. And it does all come out to be the same bottom line.
So I just keep to my original way by just adding up the total up and down days against each other.
Now the most it can come up to is right around +15 or 16. That depends on who’s even or not. You can have all the Comms even AND up against all the Majors. But that just has never happened. Look up at Wednesday’s numbers above. This is extremely high. Comms = +17 and -3 Majors = +7 and -21
That shakes out to be Comms +14.
The extremes are this. (for one day) Majors were +15 one time this year. Comms were +15 four times this year.
That’s the extreme limit. This is just a gauge of which camp was stronger and by how much. And the gauge goes from being even (0) up to (+15). See someone has to be on top, which means the other is not. And the stick goes as high as 15.
Hopefully this explains it all. I don’t know of any other gauge to determine this.
Talk to me. I would love to know of a more precise way. “sure we can add up the pips”, but I haven’t found a program for that. THAT’S A LOT OF WORK THERE.
Ok guys…tell me what you all think. Am I wrong? Inaccurate. Ineffective? Off in any way?
We’re in this together.
Mike
Hi Philip,
don’t you want to be an expert of metals? We do not have anyone on that topic and you do show interest/knowledge on 2 of the products (gold and silver) so I just thought you could take a look on the other 7 products (palladium, platinum, copper, steel, iron, lamber, carbon) as well on a weekly basis and post it here! How do you like this great idea? Of course you can still make commercials but it is a pitty that two of you do the same work.
Waiting for you answer!
(Mike and rookie give me some support in the issue please! )
Hi guys,
as Philip and Mike gave already an analysis of their trades, I do the same. Above you can see the trade setups I mentioned last week.
[B]1. Short-term trades:[/B]
USD/JPY long: +23 pips [I]closed trade[/I]
USD/CHF long: +32 pips [I]closed trade[/I]
NZD/JPY short (after rookie reminded me on Sunday): +29 pips [I]closed trade[/I]
More interesting are the losing trades. Here is not so much to say. It was of course still not optimal, despite winning as there were more pips in the trades. I am still satisfied with it.
[B]2. Medium- to long-term trades:[/B]
Now here the picture is more colorful. A problem was that I did not calculate unfortunately the exact pips sizes. Hmmm… in exotic currency it is possible to see interesting things. So that you all can have a better understanding I convert here the pip values as they were in USD. In brackets you will see the real pips in exotic currencies. I find it important to convert the values as with MXN you would think I have won a Ferrari and then lose it with TRY
USD/MXN short: +102 pip (+1337 pips in MXN) [I]closed trade[/I], I reached the goal on Wendesday already, did not participate in about 40% of the remaining move 
USD/CZK, USD/PLN and USD/HUF short: I take them altogether as they are all Eastern European currencies. (HUF trade I did not enter but write here as I have many trades open). Both PLN and CZK trades were in small minus and plus during the whole week but Friday afternoon was a bad hit, meaning [I]-38 (-117 PLN) and -37 pips (-80 CZK) in open trades[/I] at the moment.
USD/TRY: this was probably the only not so good trade from exotic currencies. The elections did not do any good for my trade. Other currencies found resistance or got stronger but TRY was hard to move into my direction. At the moment I have [I]-158 pip open trade [/I](-343 in TRY), Of course Friday afternoon was a big hit here as well.
[B]3. Some other trades[/B]
I opened and closed with profits some trades during the week - besides the already mentioned trades. I also opened however some trades which are not doing great at this time, they are in negative pips at the moment. You will see them as high priority for the next week for me (written down under).
What are about new trade setups? These come usually after the COT report but I think like last week, I can already say what I will do. As [I]rookie[/I] already mentioned, I also see uncerntainty in the markets. In such market conditions [B]I have the following goals (I use on purpose not the word setup) for next week[/B]:
[B]1.[/B] [B]monitoring the open trades[/B] and try to make the most out of them
[B]2. [/B]I checked the affects of the Friday afternoon risk off sentiment move becuase of Russia-Ukraine conflict. What I have seen is that even the very bad situation in politics, the currencies lost value vs. USD but no more than on the first occasion of the crisis. This means I think that exotic currencies already found strong resistance. If I do enter a trade then I will [B]go long with HUF[/B] and plan for a retracement. I have to think about this one as I do see quite a lot of risk in this trade.
One more thing. It was since a very long time in my mind that I do not follow the right pot size ratio for short and long-term trades (I use the same lot size). Mike mentioned he uses 10x larger pot size for slaping. I was thinking in the last days what I should do. I decided to use 3x larger pot size for scalping then for longer term trades. I will take a look later how it works out.
Well, I got today quite many things ready, besides the COT report. It is the work for me for tomorrow. Enjoy your weekend guys
Hey guys…
I see posts by almost everyone, you guys just don’t take the weekends off at least a day don’t you ? 
Well here’s the comparision of non comms and commercials. Let’s see what has changed since last week.
The commdolls
AUD, CAD and NZD
Non commercials: Non commercials once again have reduced their net position /longs/ across the board, CAD the consecutive week we’re seeing a decrease in net position /longs/ while buyers cutting down on their longs. Once again specs outlook towards the comms appear bearish for now especially for CAD things might have gone sour.
Commercials: Commercials have once again reduced their net position /shorts/ for all commdolls across the board as far as my data relveals /goes back two weeks for commercials/ its the second consecutive drop in net position /shorts/ for commdolls. There’s some increase in longs for AUD and NZD while there’s some cut in longs for CAD. Price level decreased for AUD and NZD but as for CAD we see some increase which for now doesn’t really tell anything. But I’m putting it there anyways.
The majors
EUR, GBP
Non commercials: Specs have added on their net position /longs/ for GBP however longs have reduced their position by some should be noted. As for EUR specs net position /shorts/ decreased so is their longs. While specs outlook on commdolls appear clearly bearish last tuesdays net position readings for GBP and EUR reveal specs might be looking for opportunities to long EUR /or might already have started/. Prior weeks non comms data for GBP may have suggested GBP weakening however last tuesdays net position /longs/ readings for GBP reveal quite an increase. Specs outlook still appears mixed for EUR and GBP, but EUR might have reached its bottom now could be heading higher as for GBP it isn’t as bearish as we thought. We’ll have to keep a close eye on key economic data releases for these next week to confirm our bias, and to see if there’s any sentiment change.
Commercials: On the other hand commercials have added on their net position /shorts/ and reduced their longs for GBP. As for EUR net position /longs/ have been reduced so is their longs quite the opposite from last weeks report. Last week GBP net position /shorts/ reduced by 17332 while EUR net position /longs/ added by 23461 quite drastic change. price level decrease for both.
Safe havens
CHF and JPY
Non commercials: Specs have reduced their net position /shorts/ for both CHF and JPY and buyers have added on to their longs for JPY. However for CHF buyers have backed off and we see a big cut in longs -4000 from prior weeks data about the same amount decrease in open interest. Specs may be bullish on JPY with net position /shorts/ decreasing and longs have been adding up for two consecutive weeks. But as for CHF while there was a decrease in net position /shorts/ buyers have been reduced by some -4000 /thats huge/. It could be from decrease in open interest, we’ll have to see how geopolitical risks play out next week. That might give us further confirmation especially for CHF to go long.
Commercials: Commercials on the other hand reduced their net position /longs/ for CHF and JPY so is their longs. However again we see an increase in price level for both. Last weeks net position for CHF was at 35202, and JPY at 134500. Quite a change especially for JPY, with price level increase and huge cut in net position /longs/ player A /producer/ may have stepped in buying same could be said for CHF. However we should be paying close attention to risk on and off aspects of it as it affects CHF, JPY and USD.
I’ll share my trade setups later today! Have a nice weekend guys and see you soon.
PS: I’ve also attached dollar index alongside CRB index, as you can see from attachment above as of 15 Aug dollar index was down and CRB had some gains. I was reading an article on reuters the other day that specs have been turning to CHF and JPY instead of USD in this risk off environment as US produced weak economic data during the week. But next week economic calendar is full of high import. data releases for USD guys. Let’s be alert of any sentiment changes that might take place. Any news on Putin’s meeting with Germany on sunday ? I’m finally getting the hang of this, trying to be adabtable and flexible in my approach to my trade plan. Mike I understand your stance on trend, and you’re right. There’s a lot to think about how to go about this trending methodology I think we’re making it more complicated than what MG was doing. But we’re trying to gain an edge here, and as much as I think his idea was brilliant I think it can be improved in many ways. Much work needed, more trial and error. But we’re onto something as we’ve talked about using news /economic data releases and geopolitical risks/ as a confirmation on top of our bias. I’m very much looking forward how it will go.