Futures Trading based on COT Report W30-20

by Michael Chechnev | Jul 26, 2020 | Trading week results

Hello Traders,

Today is Sunday, July 26th and we are summing up trading week 30.

By the end of the week, we fixed a profit of $8,388.
Silver profit $5,700;
NASDAQ profit $1,368;
Soybean Oil profit $1,320.

And we came up with a long position in Soybean Oil and Coffee.


SOYBEAN OIL (open position/closed position), profit $1,320

SetUp to buy for Soybean Oil was published in the weekly trading plan W28. This is third signal in a row. In general, the price of soybean oil is increasing and has been green for several weeks in a row. This is what we call growing weeks. We also expected the last week to be green. The growth was interrupted, but the COT index didn’t enter the sell zone. And there is a chance that the upward movement will continue. Most likely it will be without significant impulses, but slow movement is quite possible. The seasonal factor is no longer conducive to growth, but the soybean oil hasn’t followed the seasonal factor lately.

So, part of the soybean oil position was closed at the reversal candle. The second part is at breakeven. The profit here is $1,320.

Theoretically, it would be possible to restore the position here and open several long contracts at the high of Thursday, but we need to do an additional analysis of the last COT report and look at new COT signals. Accumulation is bullish, momentum is bullish. In principle, a long trade with a keeping period of 2-3 days is possible. Let’s get back to this question on weekly plans.

SILVER (closed position), profit $5,700

SetUp to buy for Silver was published in the weekly trading plan W28. The rise in the price of silver has accelerated strongly this week. COT index hasn’t yet descended into the sell zone. And so there is a chance that the upward movement may continue. Silver price moves well seasonally.

Now with regard to our closed long position. The position was opened on July, 13 and closed on July. 20. In fact, we left at the most interesting moment.:) We earned $5,700 here.

Here we can buy at the high of Friday, there is a short-term pattern. But we need to look at the big picture. On the plans, we will return to silver.

NASDAQ micro-contract (closed position), profit $1,368

There is no valid setup for NASDAQ, but there are valid setups for SP500 and Dow Jones. At the time of entering the trade, we compared the indices of all sector.

The micro contracts were opened in NASDAQ as the strongest index at the time of entry.

The trade was opened on July, 15, but then a short setup formed. As we said in the daily comments, we waited for an upward impulse and closed the position. This decision was correct. At the moment, the indices have developed seasonally and are heading down. Our profit here is $1,368 on PRO account and $455 on a small account.
Our strategy here is to wait for the end of the short COT signal and after the formation of a long signal – to open a long position.

COFFEE (open position)

SetUp to buy for Coffee was published in the weekly trading plan W24.

The position was opened on July, 22 according to the inside day pattern. Now we see good accumulation here and wait for a good upward impulse. COT index isn’t discharged. There are high chances that the upward impulse will continue. We will close part of the position at 113. And we have plan to keep the second part until August, 10.

On the daily chart, we can see that we have already tried to trade coffee. And that trade was closed at a loss. At the moment accumulation is bullish, momentum is bullish. There is every chance that price will make new highs.


The last week was bullish and the next week looks bullish as well. This is by the way one of the reasons why our short order in Orange Juice didn’t work. We will prefer long trades next week.

To sum up the trading week:
Silver profit $5,700
NASDAQ Profit $1,368
Soybean Oil $1,320
Total profit $8,388.

That’s all about our trading in this week.
Next, we are moving to planning trading week 31.

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

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Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. The account results presented may vary significantly in gains and losses. One of the limitations of hypothetical results is that they are generated by known historical data. In addition, hypothetical trading does not involve financial risk - no hypothetical track record can represent the financial risks of actual trading. For example, there is a possibility that trading will be suspended or cancelled if losses are incurred, this can greatly change the actual results. Furthermore, there are numerous other factors that cannot be fully accounted for in hypothetical performance when implementing a trading program, and thus can affect actual results.

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