EURUSD is a psychotic mess … and while the spread in USDJPY has now blown
out to where Cable is trading, about the only thing positive I can say about FX
right now, is at least EURUSD has maintained a razor thin spread … can’t move
for shit testing parity, and the stop hunt runs are as vicious as I‘ve ever seen ‘em
… London Fix time, and for the entirety of 9+ hours of trading, 3 m5 candlesticks
make up the entire day … 1) 09:30 Turnkey server time, 14 PIP range … 2) 14:15
server time, 25.7 PIP range … and 3) 14:20 server time, 21.8 PIP range … total of
61.5 PIPS … range for the day about 69 PIPS [so far] … the rest of the day a bag
of flaming dog poo … psychotic, deranged, vicious, with spikes from Hell on both
sides the norm, but not going anywhere either … a classic scumbag bank LP
“meat grinder” day … they’ll be popping champagne bottles after this day
is over!
As I stated the other day, right now being short EURUSD is an overcrowded trade,
and you’ll have plenty of company which is most definitely not a good thing … as
today can attest, when the scumbag banks get wind of an order flow shift and
offers dry up, it takes almost nothing to get nervous shorts to bail "el mucho
rapido”, and even on the 15s chart, where 3+ PIP ranges aren’t unusual, it’s a
rocket ride to the top, and when that short lived flow ends, it’s right back down
… rinse, repeat today about 3 dozen times … blink your eyes, and the banks are
running it the other way … like I said, a classic “meat grinder” scenario, and
you’re the meat!
EURUSD has a date with destiny … Friday, July 22, 2022 … that’s the date
Nordstream 1 is supposed to come back online with gas flows to Germany &
France … until then they got NADA! … if Vlad decides to play hardball, and for
whatever reason the Natty Gas doesn’t start flowing again, EURUSD WILL GO
DOWN HARD … VERY HARD … possibly IMHO below 0.90000 and into the 80’s
… if gas does start back as scheduled, a good relief rally back to the 1.03 - 1.04
level is probably in the cards … with the volume of shorts, though, it could get
nasty and go higher still … either way, my money is on Vlad! … count on it, he’ll
make a fortune … what makes this particularly interesting, is the day before the
ECB meets … what if they raise rates, and then he shuts the Natty Gas off?
… yikes, is all I can say … we’ll see in 9 days!
Multiple algorithm buy signals today in EURUSD … TURNKEY PAMM DOWN
SLIGHTLY … the algorithm did great, me not so much … had a mistaken buy
when there wasn’t a buy signal … haven’t had any order mistakes in a good long
while, simply cuz I put the volume box to ‘0”, and only fill it when I’m just about to
make a trade … that didn’t happen this morning cuz I was showing “Miss Gimpy”
the order box beforehand, where she had some questions … when we were done,
I should have returned the volume to “0”, but didn’t, and when later I moved the
order box, Boom!, you’re filled Skippy! … other than that, the algo did it’s job, I
didn’t … tomorrow sees U.S. inflation data at 08:30 AM EST via CPI numbers
… expectations are for “ugly”.
Volumes higher today, but outside of those 3 m5 spikes on panic short covering, it
was an ugly price action day … sure, I could have gotten pissed off over the
mistake and gotten in there and traded like my pants were on fire … but why, when
the collective loss was very minimal? … as it was, we collectively end the day
down maybe a couple of Happy Meals, with a big data day tomorrow, and plenty
of action coming up … EURUSD ain’t gonna stay quiet in the days ahead, I can
assure you … given the penchant for wild action potential around the “par level”,
the first half of the European session was a complete dud, with price not doing
anything just a few PIPS above the par level .. it wasn’t until the virus scum banks
of Wall street showed up around 6:30 - 7:00 AM EST, that price did anything … and
even then, 2 successive m5’s responsible for 39 PIPS on news of Nomura seeing
the FED & ECB cutting rates early in 2023 … the rest of the day a complete “meat
grinder”.
As we move forward, volumes will go higher still in EURUSD … fills and latency
are excellent from Turnkey [knock on wood] … I got bigger fish to fry than Happy
Meals, so why get upset over it? … I will say, though, trading action today barely
acceptable … what we saw today sucked, plain & simple … onto tomorrow, where
I expect some fireworks and much better trading conditions.
… outta here … “The future’s so bright I need 2 pairs of sunglasses 😎😎, and my
own Brinks armored truck” 💓!! … Onward & Upward!!
-vegas
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