7.30 p.m.- ISM Manufacturing PMI I noted news events from URD blog post, at time of news, i will try not take new position, if already in position.. will place SL-Mkt order.
Nothing to confuse much. What I understood is that crude oil inventory is the major news whose time can be get from the calender. Not assume it as 8.00 PM Wednesday all time. It may vary depending on the holidays. Then anything which has a high impact on USD may affect crude oil as crude oil is expressed as barrels/USD. (told by Jagadheesh). Also take care of day light saving time from start of November to end of March each year. That's all.Will update it later upon my own experience.
Another main concern about DP method for crude as there is no PDH,PDL and PDC for crude as its an international traded commodity trading 24 hrs and indian crude fluctuation is mainly dependent on international price (said by URD).You can see the big candles on open, just to fill the gap between the international price difference traded overnight. So its better to consider it a ranges (also said by URD). But I don't know how to implement it as I am not a DP trader. For Nifty, DP method is one of the best methodology.
And a very useful link to improve as a trader, (you may be knowing this :)) http://yourtradingcoach.com/blog/
Thanks for explanation. coming to DP method on crude, i was able to trade successfully last month.. thats enough evidence that whatever we learned from ST and URD pays well in case crude as well :)
Which news is there?
ReplyDeleteDinil
Dinil,
Delete7.30 p.m.- ISM Manufacturing PMI
I noted news events from URD blog post, at time of news, i will try not take new position, if already in position.. will place SL-Mkt order.
But I didn't find any news at 7.30 pm on calendar.
ReplyDeletehttp://www.forexfactory.com/calendar.php?week=this
Dinil
Dinil,
DeleteThanks for the link.
So far i am just staying away during meet times as URD published in his blog spot.
Important Data Release affecting prices of MCX Crude oil:
Monday
Around 7.15 p.m. Chicago PMI
Tuesday
2 p.m- Manufacturing PMI
7.30 p.m.- ISM Manufacturing PMI
Wednesday
Around 8 p.m.- Crude oil Inventory Release
Friday
7.30 p.m.- Canada PMI
Thank you for the information.
ReplyDeleteDinil
And there will be a shift of 1 hr from next month as day light saving time will be there.
ReplyDeleteDinil
Dinil,
DeleteA bit confusing for me, so many news and timezone makes me more confused :(
Nothing to confuse much. What I understood is that crude oil inventory is the major news whose time can be get from the calender. Not assume it as 8.00 PM Wednesday all time. It may vary depending on the holidays. Then anything which has a high impact on USD may affect crude oil as crude oil is expressed as barrels/USD. (told by Jagadheesh). Also take care of day light saving time from start of November to end of March each year. That's all.Will update it later upon my own experience.
ReplyDeleteAnother main concern about DP method for crude as there is no PDH,PDL and PDC for crude as its an international traded commodity trading 24 hrs and indian crude fluctuation is mainly dependent on international price (said by URD).You can see the big candles on open, just to fill the gap between the international price difference traded overnight. So its better to consider it a ranges (also said by URD). But I don't know how to implement it as I am not a DP trader. For Nifty, DP method is one of the best methodology.
And a very useful link to improve as a trader, (you may be knowing this :)) http://yourtradingcoach.com/blog/
Dinil
Dinil,
DeleteThanks for explanation.
coming to DP method on crude, i was able to trade successfully last month.. thats enough evidence that whatever we learned from ST and URD pays well in case crude as well :)