For all of August the markets have been feeling very listless, directionless, lacking energy. Perhaps its just me. The charts show an interesting picture:
GBPUSD: In August, we’ve had 3 bursts of energy: 2 Aug, 7 Aug, and 14-5 Aug when cable jumped by 200 pips, 300 pips (the day the Dow whipsawed) and 200 pips. By that pattern we are due for a move today. In between it has had a range of only about 100 pips, which is small for a daily range.
EURUSD: This pair is the main reason for the feeling of listlessness. It has had an average range of about just 60-80 pips per day! It managed 120 pips on Aug 1, 2 and 16 and 150 on Aug 15. Some days we got by with just 40 pips movement for the whole day!
I have not been feeling particularly focussed myself this month, and perhaps it is just the market that affects me. Most of my trades have been losers, the month is looking like it to be down between negative 10-20%, which doesn’t help. I am looking forward to September.