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Monday, May 14, 2018

WHEN WORDS FAIL

“The look that says it all.”

The GBPUSD algorithm “update” is finished and in the can; “in all seriousness, 
I can’t make it any better statistically and/or faster to the trade” … all we need 
now is a Cable market that moves somewhere … anywhere … but, that seems 
to be a major problem as of late, cuz for the 9th day in a row, all we get is no 
volume, no liquidity, and mostly no interest, with days that can barely put in a 
few dozen PIP ranges for 12 hours. It’s pathetic, but whaddaya gonna do? 
… you can’t “push it” when it doesn’t want to go, all you can do is withstand 
the boredom, choppiness, shit fills [“well, not as bad as DOW30 or GBPJPY, but 
still not good today … not enough to really bitch about, just another nickel and 
dime effort on behalf of the LP’s to make money from whoever they can steal
take it”.], and algorithm whiplash. 

I’ve upped the volume to between 200,000 - 300,000, and all we need now is 
some volatility … once we hit the low of the day very early into our session, it 
was straight up off the bottom 40+ PIPS within 10 minutes … since then, 10 
hours of pure crap and an approximate 35 PIP range from the tips … and 
more importantly, layer upon layer of sell orders above 1.35900 that seemed 
endless today … with all the short moves up into that area, there sure was a lot 
of selling. Really, today was just a bunch of nothing.

A shipload of trades today … PAMM down collectively about $37 
… considering the higher volumes, it was a slightly negative scratch day.

Directly below, the daily candlestick, where for the 8th out of the last 9 trading 
days, nothing but some variation of the “doji” spindle … tomorrow sees U.K. 
unemployment data and wage growth at 4:30 EST., so this recent impasse 
should get resolved one way or the other, and we can either rally over 1.36 or 
move firmly below 1.35.

“Seriously ... can you believe this crap”?

Directly below, today’s GBPUSD algorithm on the M5, which you can see was 
a bucket of hog slop … the afternoon break coming on the heels of what else? 
“Brexit” news as another Scottish Apparatchik Pie Hole can’t keep from  
“blah blah, yada yada” , and get 5 minutes on Sky News cable TV. 


There isn’t much I can do when all we keep getting are daily “doji” patterns 
… really, you got to go back a very long way, outside of Holidays, to find 
another 8 or 9 day POS like we have now … for Cable, this is unprecedented, 
to stay within such a tight range and simply go back & forth violently, 
especially after breaking 900 PIPS in 3 weeks … go figure.

However, this too shall pass, and the algorithm is well suited to capture some 
good moves when the market decides “enough is enough” and it’s time to move 
… tomorrow would be a good day, via employment and wage growth numbers 
… we’ll see. In any event, no damage of significance today as we basically  
“tread water” … again … and look for better 12 hour ranges and intraday 
moves … I’m outta here … until tomorrow mi amigos … Onward & Upward!!

UPDATE 7:15 P.M. EST:  PAMM spreadsheet directly below.
  

 Have a great day everybody!

-vegas

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