Futures Trading based on COT Report W18-20

by Michael Chechnev | May 3, 2020 | Trading week results

Hello Traders,

Today is Sunday, May 03rd and we are summing up trading week 18.

By the end of the week, we fixed a profit of $5,837.

And we came up with a short position in Coffee and long position in Cotton.

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Firstly, this is our map of COT-Setups for week 17th.



SOYBEANS (closed position), profit $5,837.

SetUp to sell for Soybeans was published in the weekly trading plan W15.
This setup we traded in two contracts. Under May contract, we had a loss. We earned $5,837 via current contract. The position was closed at the market price. Only 2 ticks were not enough for our target 829.



If we talk about the further movement of soybeans, then on the weekly chart we see that the COT index isn’t discharged. It is still in sell zone. With a high probability, the decline will continue. But most likely it won’t be as fast as before.





COFFEE (open position)

SetUp to sell for Coffee was formed in the weekly trading plan W15.
Now we see that the price declined to MA52. See how it bounced off the moving average. There is also the likelihood of a repeat of this scenario.



Thursday was a reversal bar. Friday was an inside day.
Therefore, we will move the stop loss closer to the market price. The supply and demand indicator also tells us this. The indicator does not make new lows, it has stopped and does not decline along with the price.
So, we will move the stop loss to Thursday high +1 tick, since a rebound is planned here.








COTTON (open position)

There is a downtrend and long setup against trend.
For this reason, we entered a position with a reduced risk. The position was opened on Friday.

An analysis of the latest COT report shows that COT index is starting to discharge down. This tells us that a correction may begin. There is also no explosive impulse in our direction. Therefore, we will separate the stop loss into two parts.






INDEX CRB

The index is in flat movement. We believe that sideways will continue here in the next two weeks.

There won’t be many trades on the next one. We need to understand where the index is directed. After understanding the direction of movement, we will gain positions.

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That’s all about our trading in this week.
Next, we are moving to planning trading week 19.

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