Have any of you looked at Commitment of Traders ?
It’s essentially the direction the commercial futures traders are taking on various commodities including currency. I’ve only just started looking at this with the view of gaining insight on short/medium direction of a particular currency.
For those mildly interested, I’ve put up a flash based file from Peter Bain’s site at https://www.mql5.com/go?link=http://www.cooney.com.au/FXMentor/cot/cot-how-to-read.htm and the latest COT charts can be viewed at https://www.mql5.com/go?link=http://www.cooney.com.au/cot/COT_example.htm. The latter are current graphs as of last Friday which are taken from data the previous Tuesday.
I’d be interested to hear comments from those who maybe are using COT as well as how traders apply this data i.e. time frames, strategies etc.
I think COT could be used as a great tool to trading though I’m still out of my depth in relation to the practical application.