Trading over the US holiday Thanksgiving

Beginner Questions
1

When trading over the US holiday Thanksgiving, what changes in the market over this time? Is it more of a liquidity thing? Any weird flash crashes?

I trade from Sydney Australia and know that Japan & China etc, have their holidays, which can make trading pretty slow for that day during the Asia hours. Would the same be true about the markets just being slower in general during this time? But because the US is the second largest Forex market it would affects more pairs over the day.

Thinking about closing my trades.

2

Hi HonestDon

I won’t trade during the holiday season in the US. As from today many people in the US will be travelling and whilst the US market will be open tonight and Friday night most traders will be away. So the volume and volatility will be low.

It is business as usual in the Asian and London session but again there will be traders who will sit out and not trade.

If your trades are in the positive and your stop loss position, should it be hit, will still give you a profit then maybe you can let them run and see what happens. However that is a choice you will have to make yourself. Personally I am flat the market and wont trade till Monday.

Cheers

Blackduck

3

I like your discipline.

I have a short on AUD/USD that has given me a few pips so far. I’m going to let it run. But if it pulls back I may have to get out at break even.

4

Taking a look at the charts, you should be good for now but it looks like the downtrend may be reversing soon. If so, I would expect it to do so probably somewhere between 0.6730 - 0.6750.

5

Where do you see a trend reversal? It bounced off the top of that channel at the beginning of the month.

image
image1920×1080 116 KB

I mean, of course anything can reverse at any time, but I’m not so sure about this one making a full reversal. I guess it also depends on your definition of a trend.

6

Here’s how I see the market. Of course, I could be 100% wrong. :smile:

33 PM
33 PM3360×2100 555 KB

2 Likes
7

Always good to see someone else’s thought process. I will keep a close eye on my shorts just in case.

8

I’m going to be the middle guy.

I think you’re both right. I’m no expert but I think the trend is still down but in the short term a correction could be on the horizon.

But again, nobody knows how the market will react sometimes.

9

the fan says it is bullish for 28 11 2019
as of now see image it is oversold

AUDUSD_ecnM30
AUDUSD_ecnM301122×354 8.4 KB

10

You love the Gann Fan. What got you into using them?

11

that is not the Gan fan
The Zrrsys Fans Are Sets Of Trend Lines Drawn From The Opening Price Of The Last Day Trading Session Through A Set Of Points Dictated By A Triangle Formed By Analyzing The Last Day Trading Session’s Price Movement
The Zrrsys Fan Tells You
When It Is Best To Buy
When It Is Best To Sell
When It Is Best To Stay Away And Not Trade

12

Oh sorry about that. You can see how much I know :blush:. But cool indicator. Never heard of it before. There are so many indicators out there. What is it about this one that stuck with you?

13

Just my take on the AUD.

AUD Weekly
AUD Weekly2339×1257 150 KB

AUD Daily
AUD Daily2345×1253 150 KB

However the AUD is a slave to the USD so a lot of price action will depend on what economic and or political news comes out of the good old United States of America.

The very reason I don’t trade the Aussie.

Cheers

Blackduck

2 Likes
14

It’s amazing how people see things differently. All you can control is yourself. And sometimes we can’t even do that right!

15

Actually I am a software developer and was thinking about creating an indicator for swing trading but when i used it with a 30 minute time frame and did some back testing
i noticed that the indicator give some good and reliable signals for day trading
The Zrrsys Fan Tells me
When It Is Best To Buy
When It Is Best To Sell
When It Is Best To Stay Away And Not Trade
i have been testing it for about a month or 2
and it is giving some good results
look at this post about past friday trading session
(I give in this forum every friday Mql4 templates for traders to test)

16

Yep :grin: :rofl:

17

I just avoid trading during international and big American holidays.

18

Opened two positions at the start of the week. They’re doing well so far but might close them today haha. Did you end up closing yours?

19

I wouldn’t open positions now

20

I opened a short position last week and still going on AUS/USD. It’s looking like it might reverse but if bad news keeps coming out, down she goes.