“In a universe far, far away!” … that’s the takeaway I remember from FX futures
trading way back in the day, way before government central bank manipulators
got involved … quite frankly, back then the world’s major dollar pairs traded like
Bitcoin does today … born free so to speak … born to run free, as free as the
wind blows … nothing like the complete bullshit we see today, where TBTF
scumbag banks run the show on behalf of Apparatchiks with agendas
… welcome to the maze! … once in, never out, but who wants to be “out”?
… back then, weekends were the saddest 2 days of the week!
In 1992 the Nazi lover and collaborator, one George Soros of now infamous
Libtard fame, bet so heavily against the BOE, where he was short Cable and long
the D-Mark that he almost bankrupted the BOE when John Major’s Tory
government decided against joining the E.U. and give up Pound sovereignty
… that ushered in a little over 2 decades of FX volatility that left many a trader
[me as well] thinking FX could never go “sleepytime” or die on the vine … and
then came January 2015 and the EURCHF clusterfark … and that was a game
changer, cuz from that date on, central banks clamped down on FX volatility
“bigly & yuge”, and we’re still seeing the ramifications of that to this day … take
any FX pair and simply look at the monthly chart since 2015 versus the monthly
charts before 2015 … not even close to the same kind of market.
And so here we are back to the one FX pair, not even Coinexx can fuck up … I
mean, they’ll try to be sure, cuz like Biden, they FUBAR everything they touch
… stay away from big reports and central bank interest rate decisions and most
likely conditions will be OK … every day sees a host of ECB Apparatchiks on the
wires attempting to influence EURUSD opinion and price levels, but long ago the
market stopped paying attention to these Asshats … the main advantage of
trading EURUSD, is arguably its got the lowest cost to trade on the board,
roughly 0.3 - 0.4 PIPS total cost [spread + commissions] … and not incidentally,
IQCENT matches favorably with total cost of 0.1 - 0.3 PIPS! … BUT WHAT
SEPARATES THEM FROM THE CROWD at places like Coinexx [or other houses],
is they offer much higher leverage for those who want it, currently 500 : 1 … I
don’t recommend utilizing leverage that high, but like I said yesterday, it does
give aggressive traders a Helluva lot more flexibility … so, even if you dislike
binary options, OTC binary options, and/or crypto [can’t figure this one out, cuz
money is money], IQCENT IS STILL THE PLACE TO BE TO TRADE FX, especially
the dollar pairs … even in non dollar crosses, their total cost to trade is
favorable with others, and you still get the same high leverage, although
USDJPY is “only” 300 : 1 … and, if someday you “see the light” and decide to
trade crypto pairs cuz the cost to trade is, for all intents & purposes, ZERO,
and given the VIX and ranges, it’s waiting for you patiently!
Take the bullshit of retail sales and add a bigger pile with consumer sentiment,
and you got “lightning in a bottle” hit FX, followed natch by “Crickets” … well, it
is Friday, and quite frankly nobody gives a shit most Fridays so there’s that to
consider … overnight to retail sales an utter trading graveyard, with EURUSD
only seeing a whopping 30 PIP range … and didn’t the scumbag bank LP’s sure
screw somebody on the retail sales release? … it’s who they are and what they
do, so nobody in my house is shocked by it.
No trades today for the PAMM … EURUSD “Trading Ratio” [TR] below 3 the entire
day, dragging along near 2.5 and even under that at times … and that means it’s
not worth trading … not surprised on a Friday, and after a nice run higher as well
from the 1.06 level to today’s thieving high of 1.10710 … post retail sales,
absolutely NADA on the upside, with almost ALL on the downside in terms of
trading action … I’m not a dollar bull, and while the market does need somewhat
of a rest / break, today’s downside momentum does kind of surprise me, as it’s a
one-way street … quite frankly, this is why I developed the TR, cuz it shows the
trading volatility of a pair and takes into account both up & down action … when
it’s below 3, it means there isn’t enough “oomph” in the market if the trend is
against the side you’re attempting to trade … EURUSD is in a longer term bull
mode, so I don’t want to be short or trade it from the short side … I’m looking for
long signals, and today’s action sure as Hell didn’t give any … there were some
underneath the trend down, but the TR shows it’s not worth pursuing cuz it’s too
poor, and looking at today’s m1 chart you’ll see that’s the case … in any event,
I’ll pick it up again come Monday’s Asian session.
A different story in Bitcoin … a good, solid rally out of the gate in Asia, and most
of the day’s range put in before China even opened … multiple trades in BTC for
“The Syndicate”, and we’re UP APPROXIMATELY 0.8% … love this market, and
now that we’re over at IQCENT, I love it even more!
Moving into the New York afternoon, and this defines drifting lower price action
in FX going into a weekend … comments from a FED PIE HOLE and rates
climbing … and it looks very much like the FED put the kibosh on gold and silver,
with the “Rally Protection Team” [RPT] going full retard “Thelma & Louise” on
price to the downside, and that’s spilling over into FX and creating sell side
pressure, and most likely some long liquidations … again, not surprising after a
400+ PIP move up in EURUSD … ranges not bad across the board, but again the
TR’s stink, and from my perspective looking at EURUSD it’s worse than other FX
pairs … blog update on Sunday.
… 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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