Took a 33% hit. Stop loss of 55 pips was triggered. Interestingly at 0600hrs, there was very little upper shadow, and I was looking at a 20 pip loss. Perhaps a new rule could be to reverse the trade upon a 20 pip loss at 0600, since it indicates strong bears, and changing timezones would mean people see the bears and hop on the bandwagon. Kinda makes sense - for example yesterday it was 20 pips up from 0000hrs to 0600hrs, and it hit another 20 pips higher the rest of the day. Worth checking out! Trade safe!
Yours,
X
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