As per request i have made this thread for only Base metals.
Crude and other items will be updated on other old thread ........
Funda is simple........sheet is given to every one...trade according to it.
I.e.if buys break out happens.first see if it can clear the first target..........
i..e.if copper gave a buy above 403.60 in our sheet and now its trading at 403.70..........next target being 404.90.........u buy and hold it as per sl given.
But while going up it failed to break first target.......means its false break out...u have to exit there and short with a sl above first target or second target.As per me, it fails to move above first target means ...it is going to fall...if it breaks first target then u can expect it to rise again
Watch atp.....in commodity items atp plays a major role..it keeps on testing atp between the movements.
Try to buy near atp.............on a break out.........so that ur stop loss is minimum.
i.e.if it gave a buy above 403.60 and now trading at 404.70 with atp at 402.90......there are 2 chances it may keep on moving up or come back to test atp.
if its break out...at 403.60 ,,,,,,safe players should wait for buy near atp instead of buying at 404.70 so ur sl is small.
While big traders can use break out levels also to buy otherwise u may lose a chance to ride the rally.U can afford...but not small investors.
Profit area..Dont look at target..make ur mind for profit and get out for next trades if it is necessary.
Happy profit making trades ahead.
All the best.
Please do not use the same sl in crude or any other items which i mention.
Always use stop loss above what i have given in all items.Please give 2 point difference more than my sl.
Ie.if i give a call saying short crude at 4525 with sl of 4528 always use sl above 4528..only or 2 points + 4528=4530
Also for other items always use sl above my levels ...not the same even if i mention it.