Futures Trading based on COT Report W23-20

by Michael Chechnev | Jun 7, 2020 | Trading week results

Hello Traders,

Today is Sunday, June 07th and we are summing up trading week.

I suggest to start with the news about the World Cup Championship of Futures Trading®.

We are in 3rd place in the The Global Cup Derivatives Trading Championship with a profitability of 156.2%. LINK
Here is another proof that our strategy based on COT report works, and fundamental analysis and strong risk management give good profitability over a long period of time.

We take third place for the second year. A stunning result that motivates us to do first-class and honest trading.


So, let’s discuss our trades W23.

This week we closed Soybean Oil position, by the end of the week we came up with long positions in Canadian Dollar, British Pound and Corn.


SOYBEAN OIL (closed position), profit $5,490

SetUp to buy for Soybean Oil was published in the weekly trading plan W22.

The position was opened on May 26, it was closed on June 4 via stop loss. We moved the stop loss close to the market, as there was a reversal candle. This is a sign of a market reversal. The trades were on a PRO account and small account.

Profit amounted to:
Pro Account $5,490
Small account $360.

Our further strategy for Soybean Oil is below. We see that COT index is not discharged. And most likely the up movement will continue until MA52. To re-enter the trade, we need to wait for some correction. It is necessary that the indicator %R goes into the oversold zone. The first rollback should be ours. It is also possible entry to the rollback to MA18.

We also see that bearish signs appear in the supply and demand indicator, that is the current price movement is close to a correction. As soon as the supply and demand indicator changes, we will look for the entry points discussed above.

CANADIAN DOLLAR (open position)

This long trade was opened on the basis of the setup, which was formed on the 22nd week.
This is the second setup in a row. The trade was opened on May 29 through MA18 pattern. Our stop loss during the week we moved below a reversal candle, as well as soybean oil. But we see that the upward movement continues. Target price is 0.7706.

The COT index also didn’t discharge, but now the price has approached MA52. We are waiting for the result of trading day on Monday and we will make decisions about the future strategy here. It is important that next week there will be a rollover to a new contract. We also need to keep in mind the peak of seasonality during the following cap of days (green line on the daily chart).

BRITISH POUND (open position)

SetUp to buy for British Pound was published in the weekly trading plan W22.
There is also a long position. COT index is not discharged. We think that the upward movement will continue.
The position was opened on June 2 as an Impulse trade. The target price is 1.3215. Seasonality contributes to the growth of the british pound. Yes, here the indicator momentum fade out, but it can catch up. There will also rollover to the next contract.

CORN (open position)

This long setup formed on week 18. The instrument had flat movement for a very long time, but now the price is slowly going up. The COT index continues to remain in the buy zone. There is a very strong accumulation. This is good for our long position.

We think that the movement will continue and we are planning another entry as an impulse trade. This position is open on our both accounts. The target price is now set as a correction. We will analyze the last COT report and assume that we will increase our position as an impulse deal.


The COT index was growing last week. Interestingly, last week the analysis of COTreport showed a greater number of setups to buy. The CRB index perfectly reflects this. Let’s see what setups will be after the analysis of the COT report published this Friday. It will be possible to roughly understand whether commodity markets will be weak or strong.


To sum up the trading week:
Soybean Oil, profit $5,490
Soybean Oil, profit $360 (small account)
Total profit $5,490.

That’s all about our trading in this week.
Next, we are moving to planning trading week 24.

These detailed trading plans are published for members in our Insider Week community. Join us now!

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Risk Disclosure: Trading in futures, forex and CFD's involves a high degree of risk and is not suitable for every investor. An investor may possibly lose more than the capital deposited. Only risk capital should be used for trading, or parts of risk capital. Risk capital is money, the loss of which does not change the financial situation or does not affect life. Performance achieved in the past is not a guarantee of future profits.

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