Low Volatility Action!
A quick wrapup as the fundamental calendar is quiet and prices are within their average range. Again, notice that we rallied in equities - let's see where we close, but I am still in the bullish camp as there seem to be more buyers than sellers. It is pretty easy to have more buyers than sellers when there aren't any sellers!
For a quiet day, we had a nice rally in SPX off of its lower opening and that got forex pairs moving. They moved way more than I thought they had the capacity too, but that was great as a BUFFALO BOUNCE showed up in the GBP/USD:
Past performance is not indicative of future results
So the week ended with two serious trading opportunities. Out of 5 days, 2 trades. As a day trader, it takes patience to be in front of the markets all day and only make 2 trades. Patience and location are a must in low volatility markets. And we may have more of the same next week as it is still summer vacation and the calendar looks bleak - although we know that things can get stirred up at any time in this market environment.
Happy Trading and Be Environmentally Cool
Forex trading is one of the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose.
Market Analysis Archive
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