We are well and truly in holiday mode here in Europe. The big institutional traders are protecting their bonuses by not stepping up to the plate with any real volume. The CVD yesterday showed two way range business in RTH timezone.
It will take an event to move the markets until the new year shows itself. Then its every man/woman for him/herself again.
Kiki and I are in careful mode. The number of trades we take has dropped in line with the volatility. Traders in the U.S. timezone are having a harder time of it at the moment. If you don't catch THE trade then you don't have much else to do. Our cherries only have one bite per time zone, if that.
The financial rise of the non christian world may have an impact as they get be a bigger part of the 24 hour market and ignore Christmas but while the main financial news that impacts prices comes from the U.S. we may have an action v. reaction type of trading. Added to this, the recent focus of governments on bonuses of institutional traders, who move the market, may impact things as well if these institutions move their traders to other countries or even timezones.
We will be posting most business days during the holidays. On dead days I am doing some more work on Market Profile with Kiki and we will share that in this blog.
Meanwhile, back at the virtual trading ranch today....
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