“Hey Spike, what’s your opinion on today’s upcoming CPI report?”
"Most important CPI number evahhhhh"!! Well, that’s the blowback from
the financial MSM anyway … as far as I’m concerned, just another “gift”
to the scumbag bank LP’s to create mayhem out of nothing, and then profit
from the carnage. “You want to know where inflation is at? … Go to the
frickin’ grocery store and notice either prices rising “bigly & yuuge”, or notice
anything you buy in a smaller package for the same price as last month
… either way we are all screwed”!
And for the 8th day in a row, the Chuckleheads in Asia scream EURUSD
higher, almost to the 1.24000 level … and you automatically know what
happens next … for the life of me, I can’t figure out where they get all the
money to put into trading accounts and then promptly lose … just based on
loose anecdotal evidence, I’d say they lose 85% - 90% of the time. Whatever
they do, Europe and/or the U.S. sessions will undo their efforts.
Outside of USDJPY, which has become the world’s most manipulated asset
class thank you very much BOJ & “Peter Pan” Kuroda, most of the other
major dollar pairs have been quiet … quiet that is with a steady step lower in
price to make marginal new lows … range in EURUSD at 50 PIPS, right here
before the CPI print … my gut feel is that the whole world is looking for a
“soft” number and is positioned that way; SP500 certainly looks that way.
CPI report, 13:30 server time: “Well, that escalated quickly to the downside,
didn’t it”? Fast forward, 15:09 server time: “Well, that escalated quickly to
the upside, didn’t it”? For only the third time in the last 10 - 11 years that I
can remember, we now have with today’s action in EURUSD, a double
reversal with a huge range … something that is as rare as Unicorn meat.
And while I could fill the pages of the blog post with “talking heads” bullshit
as for the reasons, today seems a very good time to revisit the subject of FX
‘fingerprints”. And what I mean by a “fingerprint”, is the extent in both time
and price an FX market retraces in any kind of directional move … since I’m
trading EURUSD as the main PAMM market, I’ll stick to its dynamics for
trading setups … realize, though, that not all the time does this work out
… many times lately, as I pointed out yesterday, EURUSD just blasts off and
goes its merry way without retracing a bit in one direction.
The best “setup” in terms of time, are those M1’s that fall on the 15 - 34 minute
Cardinal Cross [DC] angles of W.D. Gann’s ‘Square of Nine’; specifically, cell
values 15, 19, 23, 28, & 34. Directly below, those 90° angles circled in black on
the ‘Square of Nine’. It’s worth noting, that time is more valuable as
information in the retracement than price, and when you see candlestick
“hammers, reversals, or engulfing patterns” at these specific minutes mentioned
above, it makes for a very high probability profitable setup.
In terms of price, the specific “fingerprint” for EURUSD is between 15 - 25
PIPS, as the length of the retracement … between 25 - 30 PIPS and its value
drops … 30 - 40 PIPS and the “red flags” go up the flagpole signalling the
move has a 50/50 probability of being over … over 40+ PIPS, and it makes for
extremely Slim Pickins to see the move extended … what you are really
looking for are those retracements that fall in price between 15 - 25 PIPS,
AND between 15 - 34 minutes in length. And the smaller the day’s range is,
the higher the probability of success in the trade. Directly below, the M1
EURUSD with commentary, which was today’s best long signal after the CPI
dust settled.
In addition, history provides some wonderful insight; double reversals off large
ranges, usually the second reversal lacks power to keep going … you may get
some additional move, but for the most part, staying in the direction of the
second reversal is very risky from a probability reward/risk perspective
… what usually drives the second reversal are stops above/below the range
extreme in question; after that, there is little in the market to drive it farther.
I would also add, that for smaller moves, the ‘Square of Nine’ cell time values
of 11, 13, 15, & 17 on the Diagonal Cross [DC] of the Square of Nine work well,
and the retracement price value is usually between 15 - 20 PIPS before
resuming the day’s trend. “All you have to do is take the information I’ve given
you here today, formulated over decades of trading experience, and scroll back in
EURUSD on the M1. It doesn’t matter the day, whether price is up or down …
simply map the day’s trend and look for the retracements given the parameters
I’ve highlighted … voila, trading success”!
Turning to today’s trade … well, first the Chuckleheads get killed by being
long, and then the scumbag LP banks went after the shorts … “mission
accomplished by the TBTF scumbag LP’s, and as I stated earlier, they are the
ones that feed themselves off news and reports … without it, they’d die, and we
can’t have that, cuz what would the world do without banks skimming money
from everyone”?
Really, this is another kind of day, where if you are not extremely cautious,
you end up as roadkill … If only somebody knew it wasn’t “news & reports”
per se that drive markets, but the proper “setup” … gosh, where can that
guy be?
Days like this, where the “talking heads” place such importance on an
economic release, remind me of NFP Friday’s and/or central bank rate
decision days … the trading day gets shortened, people invariably panic at
the drop of a hat, and the day’s high and low are like magnetic attractors, as
the scumbag LP banks drive price for stops … and when the market gets
really moving [like today], they will buy every offer in sight and then use the
buy stops above the old high to liquidate … they win, most institutional &
retail spec accounts lose. “You simply have to show patience & discipline, and
wait for the proper setup in the market … if you can do that, and you should be
able to, there is no limit what you can earn from trading; all it takes are the
right markets to trade, while staying away from the ones that are severely
manipulated and correlated by central banks”.
Only one trade today … PAMM up just shy of 0.2% … we keep on rolling
cuz the market trades like it’s supposed to.
And now that the “volatility Genie” is out of the bottle, I don’t think it’s gonna
be easy for the central banker elite to get her to go back in without a fight …
granted, most days can’t be like today in terms of “bat guano nuttiness”, but
we don’t need this to score triple digit gains for the year in the PAMM … all
we need are 70 - 100 PIPS per day for a range; anything past that is icing on
the cupcake. My only hope in the days and weeks ahead here in 2018, is that
we can get away everything happening on news, and simply have a trade
where it happens cuz that’s the volatility in the marketplace. The problem
with news is simple; “what drives price higher via news one day, 4 weeks later
the same exact news takes price lower. You can’t count on it to consistently make
you money … only ONE THING CAN DO THAT, AND YOU KNOW WHAT IT
IS … SETUP”! Onward & Upward!!
PAMM spreadsheet directly below.
Have a great day everybody!
-vegas
OUR TURNKEY FOREX “PAMM/MAM” IS NOW OPEN AND
OPERATIONAL; SEE “PAMM/MAM MONEY PROGRAM” IN
“DOWNLOAD LINKS” SECTION IN RIGHT HAND COLUMN
FOR DETAILS [VIEW ONLINE AND/OR DOWNLOAD] AND
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