Hello all,
I’m currently in the School of Pipsology, and am in the lesson about Market Sentiment (more specifically the Commitment of Traders Report or COT report)
So as being demonstrated in the lesson, reversals seem to follow when EXTREME amounts of people are long or short.
Is it really this simple?
Is the COT Report that effective?
And if it is effective for futures, does it correlate that directly to us, as spot traders in forex?
I basically want to know if any of you use it, and how useful you find it to be.
I dont want to waste my time with it if it isn’t useful. What do you think?
(Of course, like any indicator, I won’t base my trades on the COT Report alone. Just wondering if I should consider it strongly.)
Thanks.