Divergence is off the charts across any number of currency pairs, and can most certainly be seen across a number of other assets / indices.
Regardless of “price” – it’s the “strength” of the move that continues to dwindle day after day.
I remember a time some months ago, when price would hit and area of overhead resistance or underlaying support and “actually reverse” as opposed to “just sitting there” for days on end.
These days ( at least as it pertains to currencies ) it’s become common place for price to spend days, if not even “weeks” just hanging there. No reversal…..no “counter move” no nothing.
As a trader, all you can do is continue to grind through. I know it’s hard.
Perhaps today we finally get “an actual move”.
I agree Kong. This thing is so tiring. Check this out, earlier on Bloomberg I was reading this…
“Borrowing dollars to buy the kiwi in what’s known as a carry trade returned 3.4 percent this month, the most among major peers….Spurring the rally is a collapse in expectations for currency volatility to a record low, reducing the risk that price swings will wipe out the profits from the trade.”
The low volatility chop has to be weighing on many traders across the board. It flat out sucks right now.
I could not agree more…..it’s unprecedented.
I’ve never seen market conditions like this…..and am “once again” humbled by it.
Perhaps this is a dumb question Kong, but what else can one do in times like this?
Other than trading “small” and practicing patience while “sticking to the system.”
I don’t know if there is a thing we can do. The helplessness felt just stinks.
I think it’s fair to say that “you” ( and I do mean “you” in particular ) will have “earned your stripes” surviving this….and when looking back someday can be very proud.
I can tell you – this is the most difficult trading environment I’ve ever faced so…..that coming from a guy with a couple more years experience.
The lessons learned are invaluable, and you’ll likley only appreciate them…much later on.
It’s tough for everyone man…..but “this is what you signed up for” so…..you’ll just need to keep on pushing thru.
There’s absolutley nothing else you can do. It’s the “doing nothing” that’s the hardest.