oh boy tht was huge one
![Laugh :LOL: :LOL:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
no need of tht much words mate .
well 2day was crude data .crude melted..its magnetic affect brought gold-silver-copper n other metals down..!!
so spx500 also down n ftse 100 since start of month is shouting timber.
currencies have one bad habit. they give u quick 20-30 pips n come back to ur entry price.so i would advice ppl to decide wat sort of time frame they gonna trade..!!
for short term,just wait until previous days high or low is crossed.if goes above high n stays thr till newyork opening, then we state trend is up..!! and vice versa.stoploss is small at 25-30 pips for eur/usd ,aud/usd while 50 or so for gbp/usd.
wat if high or low is updated in newyork hours??
set entry on breakout up or below, at tht time stoploss has to be tht days low or high!! whenever it makes high or low previously has no prob.so if new high or low is made in newyork setting stoploss is large n tgt is small .thts the issue..!! so i dont favour a entry at tht time .
2days example,cable..
it was staying below yesterdays low since opening.(yesterdays low on ig shows 16111).thus one knw general trend on of the day is down. now question is not entry.( i feel the day one can predict the price tht wont show for the day,..he is the one who will keep winning more than loosing. so we have to see where we can set stoploss 1st. )
yesterdays london session low was 16150. good sl. one can look to enter as close to tht levels..!! 2days high was 16138.so 16150 never hit..!!. those who sold near 16150 made money.
now suppose u looking for entry after newyork opening.. then,wait for low to break .set stoploss above high.but then tgt is small and risk is never worth it.but still a good strategy
![Sleep :sleep: :sleep:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
. wake up guys. story finished :whistling