Hi guys,
I thought I would just post a quick chart and some thoughts about Christmas trading. We all know this time of year all the big boys are filling their days with mince pies and Champagne so liquidity in the marketplace is much lower than normal.
This does still give us a chance to trade using trendlines, support & resistance and retracements - we just have to adapt to the slower market pace. You will notice that support and resistance stacks nicely... looks like a stairway; providing us with some points of interest to trade.
The chart attached shows this "stacking" support and resistance - based on a 1H chart you will see that the main down trend has been broken and given the time of year shorting the market would be our best bet (I would add however that I haven't been trading the market this December as I've kind of been filling my days with mince pies and Champagne too!!).
Note that this is what trading the EUR/USD was like going back a couple of years!
Just a couple of thoughts of how to adapt to a changing market.
Regards,
Dan
I thought I would just post a quick chart and some thoughts about Christmas trading. We all know this time of year all the big boys are filling their days with mince pies and Champagne so liquidity in the marketplace is much lower than normal.
This does still give us a chance to trade using trendlines, support & resistance and retracements - we just have to adapt to the slower market pace. You will notice that support and resistance stacks nicely... looks like a stairway; providing us with some points of interest to trade.
The chart attached shows this "stacking" support and resistance - based on a 1H chart you will see that the main down trend has been broken and given the time of year shorting the market would be our best bet (I would add however that I haven't been trading the market this December as I've kind of been filling my days with mince pies and Champagne too!!).
Note that this is what trading the EUR/USD was like going back a couple of years!
Just a couple of thoughts of how to adapt to a changing market.
Regards,
Dan