This volatility is not only at lower Time Frame (TF) levels but also at higher TF levels, which means that we have "EXTREME VOLATILITY". Why is it so? Even reading comments in this website, I see so many contradicting opinions coming from many people at the same time. No one knows exactly what to do it seems. There is greed and fear ruling the traders. Some of them must be really hurt, increasing their fear, some of them may have made profits, asking for more quick bucks. This is what always happens, following long runs of profit (at the end of long trends).
What to do: We prefer to stay on the side. Although, if you are a very short term trader, scalping minute trades, this could be a good place to be for you, of course provided you know really what you are doing. For longer term traders, we don't recommend trading at this moment. Wait until the storm is over and the seas are calm again, with clear trend.
What Not to do:
Do NOT fight the market in order to prove that you are better. Do NOT forget one single rule. Trends are your best friend. Do not fight the trend, do not jump into early conclusions, wait for clear signs of trend.
Best of luck and good trades
What to do: We prefer to stay on the side. Although, if you are a very short term trader, scalping minute trades, this could be a good place to be for you, of course provided you know really what you are doing. For longer term traders, we don't recommend trading at this moment. Wait until the storm is over and the seas are calm again, with clear trend.
What Not to do:
Do NOT fight the market in order to prove that you are better. Do NOT forget one single rule. Trends are your best friend. Do not fight the trend, do not jump into early conclusions, wait for clear signs of trend.
Best of luck and good trades