Posts Tagged trading holiday

Nothing happens on the DOW today due to holiday

Nothing happens on the DOW today due to holiday

The trade from last week didn't do anything today. There was very low volume in the markets today as the US stock market was closed early due to a public holiday, Memorial Day. However, the price action doesn't particularly look that great! You can see the strong pinbar push up as the bulls propped up the price. The day following, some more bulls were present but since then, weakness on Friday and today, not much. However, we shall see what happens when the markets open again tomorrow.. hope

May 28, 2012 No Comments Full Story

Short entry on the GBPUSD forex market on US Independence Day

Short entry on the GBPUSD forex market on US Independence Day

I forgot that the US markets are not open today due to Independence so perhaps it probably wasn't a good day to trade. Oops! Anyway, I shorted the GBPUSD at 15120 as it moved below the support line. It dropped 15 pips... I've got a 80 pip stop and a 75 pip target on this. However, it's currently retracing and that's the thing on holidays. Low volume means that it takes less to move the market and could also mean that some traders go stop hunting... that's moving the prices around to take out

July 5, 2010 2 Comments Full Story