A VERY SPECIAL HOLIDAY

 

“I see this and think, maybe there still is hope for America.”

Today is a special Holiday, in my book, to honor and remember those men 

& women who have made the ultimate sacrifice in service to America; none of 

us would be here trading, or doing anything else we all take for granted with 

our freedoms, if not for these brave people … they deserve 1) our respect, 

2) our continued remembrance of their sacrifice, and 3) our heartfelt love and 

prayers that they may rest in peace ... May God bless all of them.

In addition to today’s U.S. Holiday, the U.K. is on Holiday as well, as 

apparently they need another banking Holiday … “you know, cuz they work so 

hard for the betterment of humanity and all that PR crapola” … so, even though 

markets are closed practically everywhere, doesn’t mean news stops, and when 

things resume tomorrow back to normal, there’s a lot to digest in the E.U. & the 

U.K.

I looked at the trading action early from late Asia, and after about 20 minutes 

decided the day wasn’t worth it … no volume & you know the rest … maybe 

they can break the 1.33000 level, but I doubt any tradeable decline could result 

from it, since both dips and rallies will be strictly stop hunts for the foolhardy 

… the upside could see some rallies, but with EURUSD collapsing cuz of Italy, 

Spain, & possibly Portugal [now in the mix for domestic trouble], that’s an 

unlikely scenario … however, the last thing you want is to be in something, and 

then “the lights go off, people hit the exits, and it’s simply you and the damn bank 

with a wider spread” … no thanks, count me out.

Looking at volatility, current intraday levels are down approximately 25% from 

Q1 2018 in GBPUSD … it feels worse than that to me, but that’s what the 

numbers say for what it’s worth … however, it’s not the numbers per se that 

make it feel worse, it’s the lack of follow through on either side, and ends up 

giving us some variation of “doji” after “doji” on the daily candlestick chart 

that’s the problem … the algorithm simply has neither time nor volatility to 

react fast enough for the rapid changes in short term trend.

No trades today, simply cuz it’s a nothing day ± a few PIPS around the 1.33000 

level that will go nowhere … great for getting chopped up. We’ll attack this 

animal tomorrow when things return to normal. Until then mi amigos, I’m 

outta here … Onward & upward!!

PAMM Spreadsheet directly below.

 

Have a great rest of your Holiday weekend everybody!

-vegas

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