A phony propaganda war has been declared on Americans who don’t trust
government … anything to get coverage away from the disaster in Afghanistan
and the wholesale anger of the American people … time to invent a new COVID
HYSTERIA MEME, where the goalposts shift to Nanny government to save you
… “the day I thank Preezy Idiot Boy FOR ANYTHING, is the day you know the
“Pod People” from Mars have landed and taken over”! … Jimmy Carter is the
only human alive thankful for “Sir Dopiness”, and history will record this
demented criminal pervert was America’s worst Preezy ever … as I said in earlier
blog posts, it only gets worse with each passing day / week / month.
If only the clueless Libtard Elites showed as much anger towards Dictators &
oppressive regimes, as they show towards the military and people of the middle
class … “Oh, you have to get vaccinated! … except of course if you're in the
Postal workers union, or some other Libtard special interest group, where
apparently the virus knows the difference and won’t hurt you cuz STFU”!
… Amirite or amirite? … the sheer hubris & hypocrisy of these assholes is
literally astounding.
You want trading action? … well, you sure as hell ain’t gonna get it on a Friday
from FX! … unless PPI figures move something, chalk this bullshit up on the
blackboard and go home … the day OVER before it began, as the Chuckleheads
in Asia spiked everything higher to their respective 20 Day Range MA’s, and now
for over 4+ hours it can’t do Mr. Jack Squat … this is truly pathetic, but when you
consider the manipulations going on it’s not entirely unexpected.
Well, “just” 8%+ inflation is all … I mean, take out all food, energy, health care,
housing, and other non essentials and “c’mon man, the thing ya know”!
… market reaction? … “meh, who cares”? … apparently though, “Stock Bellies”
ain’t liking it, and are headed lower in the “Spoos” below 4500 … and that
rallies Yen which brings GBPJPY lower in a slow walk crawl.
The “London Fix” sees nothing of substance today, the real criminal activity
occurred in late Asia heading into the European open, where somebody got the
bright idea to explode Cable higher into the week’s high … and that got faded
like a cheap suit in sunshine … another very disappointing day in Yen … USDJPY
with only a 31 PIP range, and quite frankly that ain’t gonna cut it … remember,
in non dollar crosses, it’s the denominator that really moves the cross price, and
Yen is proving to be an immovable object … quite frankly it needs to be
replaced! … about the only thing that moves the Yen is the SP500, so why fuck
around with GBPJPY, when you can go right to the “Spoos” and trade it from
the source?
And replace it I shall come Monday’s trade with EURCAD … only a few tenths of
a PIP higher in spread, but the denominator CAD moves, and the way this cross
trades it’s also more conducive to my style of trading … a combo of European &
North American pairs gives it the max part of the day to move versus more
traditional cross pairs … currently it has about a 95 PIP 20 Day Range MA, and if
things get really slow, it can drop down into the 70’s … but even if that happens,
it’s OK cuz I can deal with that … what I can’t deal with is shit in the 30’s, 40’s,
and 50’s that just fucking sits and does nothing for hours on end … and then
explodes at the speed of light for 10 minutes before dying again … from what I see
on the charts, CAD pretty much assures an active session as the cross
denominator, so it would be highly unusual to see low ranges and slower activity
like what we’ve seen lately in the Yen crosses ...so today, while Yen has a 31 PIP
range, CAD has an approximate 95 PIP range, and when that’s on the
denominator it means the cross moves regardless of what EUR does … when
they’re both active, the cross easily has a 100+ PIP range, and that’s what I’m
looking for … we need a modicum of VIX, and GBPJPY, or any of the Yen crosses
like EURJPY just aren’t seeing activity like I want … so screw ‘em! I abhor sitting
here watching grass grow and wondering if anything can move 2 PIPS in the Yen
crosses … and to boot, the trading algo models this pair very well, so results
should be excellent, but what makes it an attractive pair is the spread of around
1.5 PIPS for a good part of the day … GBPCAD simply has too high of a spread for
what you get in the 20 Day Range MA … you pay for VIX you aren’t getting, so it
isn’t as attractive … and of course, it boils down to VIX … if we get even LOW VIX,
the algo can and does make excellent money, but with NO VIX we’re screwed, and
all we’ve seen from the Yen crosses for too long is rotten, shitty VIX like today
… so time to move to a pair that gives us what we need without overpaying for the
privilege, and that’s EURCAD.
Meanwhile as I have stated before, you want trading action? … don’t give me that
look, go over and look at BTCUSD! … more action in Bitcoin in 30 minutes than
ALL OF FX IN A FRICKIN’ MONTH! … PHEMEX is one house, but there are others
that pay you 0.025% of notional on limit orders … I like PHEMEX, it’s a good
house and has great perpetual futures in BTC, offering 100X leverage for those
who want it … if you’re complaining that there isn’t any market anywhere with
any action, then clearly you ain’t looking at crypto, and why many of you don’t
is beyond me … money is money, and the world’s “hot money” is trading crypto,
no doubt about it.
No trades today in anything … Yen crosses just continue to disappoint in terms
of trading action … don’t get me wrong, I’m not saying I need “bigly & yuge”
ranges, just LOW VIX would be adequate, but we can’t even get that!
… everything today happened in late Asia into the European open … after that
it has died, and whatever is here is simply mirroring the SP500 in the main pairs
… geesh, what awful trading conditions, so no sense in crying over spilt milk we
just move onto something more conducive to our needs … onto next week.
Blog update on Sunday … outta here … “the future looks so bright, I need
sunglasses”! 😎 … Onward & Upward!!
-vegas
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