Jamie- Enjoy your posts, esp. your Wave analysis. Regarding COT and SSI etc. The issue I see is us short term speculators atleast this trader doesn't hold overnite/ over w/e and trades a particular timeframe and puts pips in the pockets. So the "snapshot" could be way wrong or right on depending.
I have seen the SSI work correctly with the move of the day and other times be way off.
I suspect that many FXCM traders operate on the same principal. The big boys Commercial players do have the deep pockets and you can see how they sold hard Cable 2.0133 and the new Euro high. My system was long and strong on most timeframes as it should be at the time and fading my system is a recipe for disaster.

Keep providing us the the COT analysis bec. that appears to be much more helpful than the daily SSI. If you used the SSI you'd be long last week looking for Euro 1.40???? Certainly see a change of char. in both Euro and Cable on the Daily time frame and higher, however wouldn't you agree this market loves to take the max pain approach. Case in point is GBP/JPY. I too saw MAJOR negative divergence here

http://www.dailyfx.com/story/trading...348186484.html

on multiple time frames into 239.4 area yet it pierced the hi taking out all shorts, making break out players long and has since reversed 200 pips over nite.

Thx Jamie- looking forward to your end of week EW Cable and Euro updates.

Euchre