If we in the West are hearing about riots and protests in China, 2 things you can
take away from the news with total certainty … 1) it’s a lot worse than being
portrayed, and 2) somebody in Xi’s camp, possibly in the military, want him gone
… this could get interesting.
Welcome to “clown world”, inside the world’s largest casino, where one hopes
the lunch buffet is better than the trading action … I came into today around
5 AM EST, and after seeing the dollar get monkey hammered lower, thought the
best case scenario would be in Cable … err, no … shit can’t even hit a range of
100 PIPS, while YEN and EURUSD are screaming … now with the sun rising and
the U.S. ready to come back after the biggest “Beefaroni & Raman Noodle
Holiday” evahhhhhhhhhh [used to be known as Thanksgiving, but 6 Indians
in New Mexico find that offensive, so you’re a racy-ist, bigoted pig if you don’t
abide by the “woke” Libtards doing their best to ruin your life.].
So with New York gearing up, the entire space can go tapioca … cue up the
broken record … “WTF, do I have to move to frickin’ Thailand or what?”
… decent action seen in the Asian session, so what else is new? … but that’s the
Asian session, and now we got to deal with New York, a completely different
animal, where “chop” is the mantra “Hoover Dam” near every day … now at just
past the London Fix, and everything that was moving is stuck in mud … FX pairs
as a group muddling along with barely acceptable trading conditions
… “Trading Ratios” [TR] as follows at the London Fix … GBPUSD = ~ 5,
EURUSD = ~ 4, USDJPY = ~ 4.5, & GBPJPY = ~ 4.5 … again, all acceptable if the
markets are moving, but they ain’t moving, they are simply chopping at a faster
than usual rate, with more than all of them having their fair share of spikes from
Hell followed by “rinky dink” m1’s … in other words, very INCONSISTENT VIX
across the FX board … “Stock Bellies” just about dead, and crude oil getting the
“Thelma & Louise” treatment cuz of trouble in ChiCom land.
Reversal day in Cable, as the post London Fix sees a new low for the day
… earlier, we had a new succession of highs … well, that ended quickly enough
… still nothing to get excited about, as Cable is a long ways away from its 20 Day
Range MA … even with the choppy conditions, and less than ideal movements,
the binary options trades appear to be working extremely well with the trading
algorithm … an anecdotal cursory look in USDJPY, and the last 10 buy signals
were higher 1 m1 later … I mean, whaddya want? … as it becomes apparent with
every passing minute that 20 Day Range MA’s aren’t going to be achieved in the
spot FX CFD’s, trading here becomes a real crapshoot, even with TR’s slightly
above 4.
Mighty spikes that go absolutely nowhere, especially in USDJPY which on some
days has become a nightmare, is a problem when chop sets in, and if slippage is
an issue, it gets exponentially worse … over in energy today, WTI Crude Oil with
an approximate $3.40 range, and Brent about $3.70 … while OPEC+ can control
supply, they can’t do shit about demand, cuz that falls to the ChiComs, which if
the riots and protest get any legs from here could really put a dent in oil demand
going forward … can WTI hit the 60”s? … meanwhile Natty Gas just hangs each
day with an approximate 50 cent range, high spread, and traders there watch the
weather forecast for the midwest like a hawk watches for rodents … unfortunately,
the high spread makes it untradeable as a CFD, nobody that I know of has a binary
option on it, and up & until there’s a place to trade it that makes sense, we got to
leave it alone … before Turnkey did the unthinkable and merged with Coinexx,
they had a very good spread going … that disappeared the second Coinexx got
their slimy fingers on it and ruined it … so, maybe in the future it can be traded,
we’ll see what happens.
One algorithm buy signal today in GBPUSD … PAMM UP SLIGHTLY … not the
kindest of entry fills, but not the usual “bend over” you sometimes get from
“SLIPPAGE FX” … liquidation was excellent, right on the bid price … the rest of
the week has key data coming out, with another NFP Idiocy day coming Friday
… so, you’d maybe figure today is the worst of the bunch for the week in terms of
trading conditions and ranges … let’s hope so, this chop resulting in few
algorithm signals is bullshit … however, overnight it will be all eyes on China for
further riot & protest news and developments … it will move markets.
… 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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