All you can do is laugh, cuz the only other option is to cry … won’t go up, won’t
go down, it just sits … and I’m wondering if the entire week to Wednesday for the
FED, and then Thursday morning’s ECB & BOE meetings is gonna be like this or
worse … check that, it can’t get worse … bodies in the morgue have a quicker
pulse than GBPJPY … maybe if it’s closed it’ll be more volatile … there’s bigger
rip tide currents in mud puddles on the side of the road than in this shit … sit
back and enjoy the clusterfark of nothingness!
Not that it’s any better in crypto here early … Asia sees a $200+ move up/down
and back again within 6 hours … I been here 3+ hours and ETH can’t move $20
… do I have to move to frickin’ Thailand to see some crypto trading action, or am
I just Kryptonite to ALL TRADING ACTION? … quick, somebody get me some
MOAR! Tinfoil! … and then BoJo drops the Omicron ball, “Stonks” open, and
everything on the board goes “kerplunk!”, right down the rabbit hole in selling
panics, none worse than ETH which got monkey hammered pretty good … ‘bout
time the trading spirits sat up and took notice!
But that’s crypto, and as I said yesterday, when VIX is “off the charts” and very
high, it covers and masks a lot of sins markets commit on a daily basis, where in
more normal & traditional markets [like FX] you can’t make the same
assumptions and get away with it, cuz they’ll carry you out toes up … today
sees 6 ½ hours of my 8 - 9 hour session with an approximate 25 PIP range
… “what the hell am I supposed to do with that? … then BoJo opens his “PIE
HOLE” and SHTF immediately everywhere and in everything … “right, we’re ALL
GONNA DIE!” … WHAT A BUNCH OF COSMIC BULLSHIT!! … oh, and finally, the
first person has died from Omicron in Britain, but doctors won’t say if he was
healthy or not, which means he wasn’t anyway! … in any event, doesn’t matter
cuz FX doesn’t really want to play today, and if it’s any indication of what
tomorrow & Wednesday look like, then the next 2 days might be better served
pulling lint out of between your toes … at least it will accomplish something!
From what I can tell in real time watching this total Clusterfark unfold before us,
either USDJPY or EURUSD have better “under the surface” dynamics than any
of the crosses, including Cable/Yen … and the reason is simple … more trading
and less market “straight shot” runs than the crosses, even though they have
higher ranges … it seems counter intuitive, but it isn’t, cuz it actually makes
perfect sense … more “under the waves” current action up/down AND with
much lower spreads, more often, and not nearly the number of wild runs crosses
can make … quite frankly I prefer EUR over Yen, so I’m gonna move tomorrow’s
trading over to EURUSD for the PAMM … that should give us more trades and
scalping opportunities than GBPJPY, with cleaner and smaller risk tolerance to
boot … and after watching today’s horrific trading action in Cable/Yen, I’m more
than willing to forego whatever it does and get more & better trades with EUR
… I certainly don’t see how it can be any worse … spread today in EURUSD
averaging about 0.1 - 0.2 PIPS and we’re paying ZERO COMMISSIONS FOR 3
MONTHS, so things can’t be any tighter even if they wanted it to be, which is to
our advantage … I think EUR is a little more consistent than Yen in terms of a
higher range, and less likely to slow down and cause problems … and what
particularly pisses me off, is when all of FX moves together in one direction,
and thus makes the crosses move very slowly … I’ll trade for more trading
action in dollar pairs, and if we get it, I won’t care what the others do at all!
NO trades today in the Turnkey PAMM … if the markets were closed there would
be more action than what we saw the first 6 ½ hours of the European session,
especially in Cable/Yen … EURUSD is what it is and has been fairly consistent
with 55 - 70 PIP ranges for a good while now, so opportunity is more consistent
as well, instead of cross “hit or miss” ranges, where one day it’s great, and the
next is pathetic.
Over in crypto land, ETH finally got going, to the downside of course, but no
matter cuz crypto “trades”! … if ETH goes UP/DOWN $150, you can pretty much
rest assured the $50 - $100 move the other way is gearing up to squeeze some
specs … this is an assumption you can’t make on the MT4 in traditional markets,
cuz quite often they only go in one direction with pitiful corrective activity for
trades … see “Stock Bellies” and pretty much every FX non dollar cross for
details! … that happens far less often in EUR and/or Yen cuz their respective
ranges are considerably shorter … so unless it sits, it trades! … and that’s what
I’m looking for! … please, bring it!
Even though ETH got monkey hammered today, there were some great bounces
off the bottoms … again, you don’t see this scope of bounce in MT4 markets cuz
it’s manipulated … and with this high VIX, the algorithm is there to catch the
bounce, and we liquidate to those who are panicking to get out, and they reach
for your limit order like hungry fish biting the worm on the fish hook … multiple
trades today for “The Syndicate” in ETHUSD, and we’re
UP APPROXIMATELY 0.6%
With a market open in the busiest time zones of the world for trading, to see a
cross like GBPJPY with a 25 PIP range over 6 ½ hours is mind numbing,
especially when you consider how little of a PIP move in EITHER the numerator
or denominator it takes to move the cross … this redefines pathetic, and when
you get all pairs moving in the same general direction it makes matters even
worse … well, no more … I’ll be more than happy to give the big days up for
better CONSISTENCY in algo buy signals, and that’s why I’m going over into
EURUSD … onto the rest of the week!
… outta here … “The future’s so bright I need sunglasses!! 😎
… Onward & Upward!!
-vegas
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