Just when you think markets [cough, bullshit, cough] might have a chance of
moving, along comes another Monday where “Asia flies, and the rest of the
world dies” … quite frankly, Europe is an embarrassment when it comes to
trading anything, where it’s hard to tell the difference between any market that is
open versus when it’s closed.
After I posted yesterday’s Sunday blog update, a few hours later looking at
some charts, something didn’t look right … and sure enough, garbage info in
leads to garbage info out … I blame the dog! … “I thought you said you could
do math”? … so very hard to get good help these days! … anyway, I somehow
got faulty figures for EURAUD, and this is a cross that should be on my trading
list along with EURCAD … directly below, a comparison of 20 Day Range MA’s.
At Turnkey, the spread for EURAUD consistently runs about 0.5 PIPS LOWER
than EURCAD, and the 20 Day Range MA is usually higher, so what’s not to like
here? … well nothing, so like I said, it goes on the trading list.
As the sun rises in New York, it’s another useless Monday in the works, with FX
about as dead as dead gets … if it ain’t movin’, there isn’t anything I can do to
make it move, and the only thing to do is wait it out, otherwise it’s an exercise in
giving money away … 4+ hours into the day, and EURCAD has an approximate
24 PIP range, and EURAUD has an approximate 21 PIP range … we’ll see if the
New York session produces anything, which most likely it will, but even if it does
this is truly pathetic.
This morning sees “bigly & yuge” thunderstorms passing through the Eastern
Caribbean, and we are right at the zenith of hurricane season … it wasn’t a
hurricane, not even a tropical storm, but you coulda fooled me, cuz for about 30
minutes it felt like a replay of Hurricane Maria back in September 2017 … as it
was, it knocked out phone and internet for about 2 ½ hours, from approximately
8 AM EST - 10:30 AM EST … and of course, like you knew it would, during that
time EURCAD & EURAUD had 2 buy signals … granted they didn’t go for much,
cuz today sucks, ranges are constricted, and everybody is in “hurry up & wait”
mode for tomorrow’s CPI print … and just by sheer coincidence, I mean this
almost never happens [snarc], Cable hits its high for the day at … wait for it
… yup, right at the “London Fix” … who woulda thunk? … criminals top to
bottom.
So when I got service back, I get my systems up & running, and lo & behold WTF
was that in BTC and the other crypto pairs? … massive rally followed by
“bigy & yuge” break … seems somebody pranked crypto … a tweet says WalMart
is gonna take crypto for payment and all hell breaks loose to the upside in BTC
… then minutes later, WalMart denies the tweet, and down goes Frazier! … about
$2500 up, and then almost $4000 down!
As we head into the New York afternoon, AUD has an approximate range of 39
PIPS, CAD an approximate range of 56 PIPS … both down significantly from
their respective 20 Day Range MA’s … most of today’s range occurred in the
Asian session, and since the European open OVER 9+ HOURS AGO, EURAUD
with an approximate range of 48 PIPS, AND EURCAD about 37 PIPS … both
showing reversals on the day around the NYSE open, then falling flat on their
faces into chop … and what that means is simple, it was nothing but a
prearranged stop hunt … if I didn’t know better, I’d think I was trading EURGBP
or some other slow moving glacier … yea, I know it’s a Monday and I also know
the most important print of the week is tomorrow via CPI figures … so what?
… does that mean everything has to die? … no, what it means is everybody is
over trading crypto and there isn’t Mr. Jack Squat for spec order flow in these
crosses or anything else in FX, where everything is corporate or institutional
flow, and the scumbag LP banks front run that flow … there is NOTHING ELSE
HERE!, cuz once that institutional flow is over, you can kiss the baby goodnight!
No trades today in the Turnkey PAMM.
The only 2 buy signals we got in either EURCAD OR EURAUD happened when
internet was down due to storms … of course it did! … every year we get these
disruptions during peak hurricane season, which is late August to October 1, so
it’s not that unusual … just deal with it and move on … even given the crap day, I
like the way these 2 pairs trade … but seriously, these extremely low ranges
can’t be sustained, so it’s onto tomorrow and the inflation numbers.
I’ll be back into BTC for “The Syndicate” by the end of this week, or early next
week, so no worries there.
… outta here early with this garbage cuz I can't take it anymore today without my
head exploding … “the future looks so bright, I need sunglasses”! 😎
… Onward & Upward!!
-vegas
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