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by Stephen Briese is widely considered the definitive guide to understanding and applying COT data. Unlike technical indicators that track price movement, Briese focuses on the players —the commercial hedgers and large speculators whose positioning reveals the underlying health of a market trend. The Core Philosophy: Sentiment Over Price

Briese moves beyond raw numbers, popularized the use of a stochastic-like index to normalize COT data. This allows traders to see how current net positions compare to historical extremes over a specific period (usually six months to three years). The Commitments of Traders Bible: How To Profit...

Only enter a trade when price action (such as a breakout or reversal pattern) aligns with the COT sentiment. by Stephen Briese is widely considered the definitive