Its now NYO, theres SMT divergence between cable and fiber. Cable failed to make lower low when the fiber did. I assume Cable is the stronger pair because of it. Still in the trade… i’ll keep you posted. really hoping for a push up in NY to LC
I’m software illiterate I’m afraid so your post went straight over my head:31:
I just followed the instructions in the readme file and in red in the comments section of the webpage.
The important bits are renaming the downloaded COT files and ensuring those file names are entered in the names.ini folder in descending order.When renaming the COT files I inadvertantly gave them a double .txt file type…easy to check by making Win Explorer show file types.
After that it should be straightforward…open MT4;open Navigator and Terminal
Select Journal tab on Terminal
On Navigator,go to Scripts and double click ‘Script Build’,click OK on the pop-up box…there’s a lot of number -crunching involved so this takes a while (my PC takes over a minute)…once its done Terminal will show that Script Build has been removed.
Next double click Script Concertenate,a few seconds and its done.
Pull up a weekly chart of cable/fiber and the MetaCOT indicators should work…if not then you have almost certainly made a mistake in the initial stage of moving files into the right folders/renaming.
Assuming it works the two indicators that are most useful I think are the Net Position and COT index;all the others you will need to have read Larry Williams and Steven Briese books to understand.
Hope that helps.
You mean 1.555? On my tape price hasn’t reached 1.552?
not sure what you mean exactly…
nope i was filled at 1.552. The low of the day so far on my feed was 1.5540, which i think was at 9.05am GMT
hope that helps
Same for me 9.05 GMT low was 1.55402. Im with Alpari, I had a feeling you are also with them. BTW took a similar
trade as you but not so accurate as I waited for fibs entry, which I ****ed up a bit, in @ 1.55548, looking for
1.55922 - ish
Edit ****ed is mot what you think it was M. essed up.
I’m really confused, how did you get filled at 1.552 today?
A Question on the Turtle Soup.
Good morning all :),
I just had a question on the turtle soup pattern. Reading more about this strategy the book they mention a 20period average needing to be taken out higher or lower to trigger you into the trade.
I just wondered exactly how this is displayed visually in the forex market? Is it achieved by having a 20 period SMA on the chart and waiting for it to be broken? I just wanted to know how to confirm a turtle soup pattern.
Thanks in advance 
The TS isn’t about averages, it’s about absolutes. If you wanted to, you could identify the previous low and high within the last 4 sessions/20 candles, then mark them with a pair of trendlines (non-ray, point to point) that extend 20 candles from the low/high you identified.
Simple thats the difference between brokers spreads. Or at least I presume that. I know the prices I see differ most of the time that what you guys say. I always assumed it was because my broker has fixed spreads. For an example my trade last week would have been stopped out according to a chart purple patch posted by 6 pips. On my plattform I survived by 3 pips. Thats a 9 pip difference. Not huge but I think most peoples spreads were widened at the drop of the news where as mine stay the same. Hope this helps a little
Right, thanks, the spread.
didn’t like the way the trade was going, just closed with a 3 pip profit, 1pm gmt.
just started watching the live stream recording, for which the DL link was shared here last week…
muahahaha all these noises?!? will they continue throughout the whole video?
Hey again!
I got some questions regarding my interpretation on the MS currently presenting itself. As you can see, if another higher ITL would form now we’d get a LTL, thus switching to a bullish program. However, the lower ITH indicates that there still is a bearish program, this here where i get confused… How do i make any sense out of this?
If i look at COT data, the fiber aswell as cable is poised to move higher due to the commercials are positioned at extreme levels. The issue is though the current euro crisis creating a " risk off " environment making people flee to the dollar, making it rise in value against other foreign currencies. This is perfectly illustrated by the US. Dollar index…
Furthermore, looking at seasonal tendencies the fiber and cable are poised to move higher.
I’m really trying to learn the Higher TFS since i’ve realized that a solid understanding of this enables you to line up with the direction of the trend, but it confuses due to contradicting information…
Sticking with it for the moment, I think the banks will not let all the money above Asia high sit there untouched “Famous last words” not looking very clever at the moment!.
Hoping they are building a stop base at the daily open price.
I’m anticipating a short AUD/USD this week based on the 1.0080 resistance level. I see an OTE happening right now at big fig resistance, but Aussie is currently not in the Pivot Sell Zone and price suggests an entry around 1.0050 would be more favourable. It’s a mid fig, probably with some sell stops and also Friday’s Asian low.
Not trading today, watching, reading.
My view on the COT: The sell-offs of the Euro and the buying of the Cable recently in the COT report, I imagine, are the currencies naturally gravitating to each other to, in terms of overall positions, become more equilibric. I like to look at the USDX to get an overall sentinment, which looks like more buying towards a neutral overall position. I can’t really draw any conclusions for overall directional bias from the CoT report, other than the bulls and bears are at loggerheads and the most recent move was a sell-off of USD shorts.
This week, 3 Sisters: I’ve been looking towards inter-market analysis for clues, seeing as the CoT report is inconclusive. I am eyeing for a short-term bullish reversal to form possibly tomorrow, giving a low for the week on Tuesday. It really depends how this movement plays out [blue rectangles], I am waiting to see in the NSDQ can confirm a possible USD decline:
Because market-flow since the FOMC has been bearish [red rectangles], I am reluctant to trade longs.
But, looking at the 4-hour on the fiber and cable, there is a possibility for a sloppy long OTE to form on both (I imagine one with a bit of precision and the other having a judas, making it sloppy (i.e. beyond 79% on one of the pairs)).
Breaking down the pairs:
Euro
Gbp
The light seagreen rectangles represent areas of liquidity that may be of interest to the commercials. I have to decide if the double-stops [I’m not being too fussy, I’ll call these double stops for graph clarity] represent enough liquidity to justify a turning point for a new long, or that they want to dip it under the 100% of the Fibbonacci retracements to gather up the whole lot of liquidity. Or, I abandon this trade idea as the chances of a long opportunity become bleak and it does not materialise.
That’s it from me.
Additional:
Yields: Nothing in the Treasury Yields to speak of yet. A possible divergence on the 2 year but, I try to give these more time than the 3 sisters to confirm divergences. Too often I see them agree after a couple of ticks extra leeway.
I have been eyeing the same level to get back short. I honestly expect it today or tomorrow. If not it might not happen. Always got to keep in mind the Aussie does not usually move as mush as the cable and fiber on a daily basis. Last week does not happen often. Instead it tends to be slow and steady. I would look to see the gap get closed but with it pushing down after the open. Unless it does a push up soon we might have already missed it and we will see price make a rally toward the end of the week. This week will be slow for me as storms move in again. Flaky internet connections and all might keep me out. Or maybe like hurricane beryl it might be a good thing lol.
Trade idea on ice for now, after the 3 sisters aligned. Expecting price to drift down to OTE’s/. Will re-assess then.
Sometimes thats the best call. Sit on your hands and wait for a better setup
No predictions, just observations. Price structure is giving bearish signals with Eu break last weeks low, and both eu gu asian ranges showing this may be a level of sell pressure with the down move today.
Been incognito a long while, taking a break from trading, and starting a new job while heavily focusing on support/resistance of highertimeframes and market structure. My TT is dulled down to just weekly/monthly highs/lows to help me segment and keep my charts clean.
