Bankers Holiday [cough, bullshit, cough] in the U.K. today, so markets there are
closed … with all that heavy lifting from stealing, they need a Monday all their
own … stop, stop, I’m getting a tear in my eye.
Now that I’ve released the “day trading” algo, all markets are fair game as long
as the “Trading Ratio” [TR] is greater than 3 … and for you newer readers, the TR
is defined as the (60 period SMA on the M1 [high - low] / the total cost to trade the
pair [spread + commission if any + usual slippage]) … if the TR is less than 3,
leave it alone … that means the dollar pairs of EURUSD & USDJPY rejoin Cable
[GBPUSD] to be the prime trading pairs of the PAMM.
No market meltdowns so far on this Monday, as the sun comes up in New York
… how fortunate a dumb ass financial holiday comes right at the most opportune
time to forestall some serious selling across markets … however, just cuz nothing
is melting down doesn’t mean there’s any strength either … weakness to varying
degrees across the board, with USDJPY hitting 139 earlier today in the Asian
session … since then JPY has rallied about 60 PIPS to the low 138’s … EUR a
tad higher & Cable a tad lower as volumes are very muted and there doesn’t
seem to be much interest in trading on this “Holiday” … let’s see what
New York does.
In today’s trading action, clearly USDJPY is the best mover, although EURUSD,
cuz of some more interest rate hike “blah blah, yada yada” from the usual
suspects over the weekend trying to give the EUR some support, is higher on
the day, but where is it gonna go higher given winter is approaching and there
are ZERO answers from POLS about what to do and how to do it in solving their
self created energy crisis? … Cable is starting out in one of those “let’s screw
everybody”, where spikes from Hell [up & down] litter the landscape of the m1
chart far too often … and to top it off, it’s not really moving anywhere … a little
up, a little down, throw in some spikes that go nowhere but scare the Hell out
of specs, and you’ve got the recipe for a very tough trading day … we want
movement, and that means both the HULL & the VIDYA lines have “slope”
… up / down who cares, just gimme slope … cuz if I got slope, I got price
movement, and if I got price movement, the algorithm is gonna nail any market
to the barn door! … and so far today, only YEN & maybe EURUSD seem to be
the ones moving while Cable diddle farts around doing NADA.
One of the worst NYSE opens I’ve seen in a while … it’s like nobody cares
… more pain coming according to Spicoli, so should anybody want to buy
“Stonks” now? … including today, only 3 days left in this horrid trading
month … be gone, and don’t come back!
This is pathetic trading action … even “Stock Bellies” opening can’t do
anything … ranges since 5 AM just aren’t gonna cut it, with nothing but trickle
moves followed by spikes that go nowhere … color me outta here on this bogus
“Bankers Holiday”, where it seems the rest of the world is happy to share in the
day off … ughh! … no trades in this garbage, and we’ll wait for some movement
and a full trading day … the ranges and movement are just really awful … no
“oomph” to the trade so to speak, as everything just meanders along like it’s
half asleep … we’re into the last hour to the London Fix [closed today}, and Cable
has a 60-ish PIP range, the great majority put in during the last half hour … it
looks like shorts are getting squeezed via a very modest rally in “Stock Bellies”
… again, given Spicoli’s J-Hole speech, it’s tough for me to see where any of this
stuff goes to the upside with any legs, outside of some stop hunts cuz they can
to screw shorts … and order flow volumes literally suck … welcome to
late August.
Despite the shitty price action and volumes, the trading signals are there
… question is do you wanna take ‘em knowing there isn’t a whole lot in the
market … there’s no “oomph” to price, except in very short / brief spurts, that die
as quickly as they are born … again, spec longs or shorts getting burned IMHO,
and that’s all that’s here … does it go 3 PIPS or 10 before getting crushed? … and
sure enough, that modest “Stock Bellies” rally got faded like a cheap suit in
sunshine, and right along with it went FX, right down the drain … and it took
only 5 m1’s to take out over 30 m1’s as it was crawling up, and if you waited for
the red spike down to liquidate a long buy signal, I can hear your screams
coming over the horizon now … and this is the dilemma of markets that exhibit
little to no action, relatively low TR’s, and are run by a bunch of fucking LP
thieves who know exactly how to push your buttons! … don’t let ‘em! … and it’s
why I’d rather wait for better trading conditions, than the shit we see now here in
late August, although Friday was the exception cuz of Spicoli … and although it
doesn’t have to, it seems like every time there’s a Holiday of any kind that
interrupts a trading day, whether Asia, Europe, or the U.S., it doesn’t matter
cuz the entire day is FUBAR when it comes to actual trading action … and
today is another one.
Well, that ended “el quicko mucho” … once the corrective action commences,
nothing can regain the MOMO to go higher / lower … it’s just another iteration
of the “Flying Wedge of Death” [FWD] where price yo-yos back & forth … and
while that could be good if we could scalp, for day trading we need “range”, and
today we ain’t gettin’ it with London closed … no trades today, I’ve seen enough.
… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,
and my own Brinks armored truck” 💓!! … Onward & Upward!!
-vegas
No comments:
Post a Comment