I SEE 'NO' BIG MONEY IN THE MARKET...

Christmas is approaching fast and New Year is just around the corner.

I guess most (if not all) institutional traders are already out of the market, mainly with their swing profit. We could see clearly since yesterday that daily volume as well as range has significantly decreased, unlike weeks before.

Does this mean that the market is no longer tradable in the coming 2 weeks? I guess the answer is close to yes, though not a definite one.

You see, one of the simplest indicator is when "the beast" (ie GBP/JPY) was hardly making any significant range (yesterday was barely above 100 pips range : 145.45 - 146.46 = 101 pips), it's kind of a clear sign that most participants are already out of the market.

Though I may still scalp a few pips here and there, still with lower volume and liquidity, the best is to stay out until new year comes.

Nevertheless, looking at the sentiment and technical structure of the market, definitely the dollar is still on the bull run. No one dares to pick a bottom with this kind of setup so better stay with the bears, at least for a while. After all, the bulls have had their fair share since March 2009 already, so perhaps the bears are taking turn now, at least until first week of 2010.

So, rather than going long on EU or GU, I would prefer to wait for sell opportunities on these pairs, until at least it reaches any of the Fibonacci key support levels on both EU (1.4000) and GU (1.5706).

Till next week, Merry Christmas & Happy New Year....

;)