Forget About the Market


DANGEROUS WEEK - Just a heads up that this week is a dangerous week for traders. Why? Well, ironically, because the economic calendar is exceptionally thin and because the US market will be taking leave around midday Wednesday for the remainder of the week for the Thanksgiving Day holiday. So if you have come into this week excited about your next trade and intent on taking positions, you better step back and seriously consider the actual reality of the situation. The reality is we may not see any movement at all this week and there could be zero reason to be taking on risk. 

SOMETHING ELSE - Monday's price action has already foreshadowed the way things will likely go this week, with not one of the major currency pairs exceeding its average daily range into the North American open on Monday. Usually by that point in the day, there has been enough volatility to at least inspire a good chunk of markets out of their daily ranges. And yet, on Monday, nothing at all. So what to do? Do NOTHING! There is no reason to be taking positions when you don't need to be and I would recommend occupy your time with something else until fuller trader resumes next week. 

Beware of the boring holiday price action. Don't get sucked in. Via @joelkruger

EXPECT NOTHING - This way, you get into the right frame of mind of expecting nothing. And who knows, maybe then we finally do get some interesting price action this week. But I think the best course of action is to simply forget about the markets and keep busy with something else that excites you. As a reminder, we are heading into that time of year where this type of lackluster trade is common place, with the markets coming into the holiday season. I for one have enjoyed a fantastic year and don't plan on blowing it all away because I was bored. Anyway, let's see what happens. 


Euro Battles around 1.1700

The Euro keeps dipping below 1.1700 but has refused to breakdown thus far. 

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