And just like that, more or less 10 trading days of up moves, only takes 3 trading
days to wipe it out … I said last week, that when USDJPY couldn’t vault 145 on
the highest STIRS seen since 2007, and instead moved slightly lower, that
maybe, just maybe the run in USDJPY is over for now … cuz what shoulda
happened didn’t! … and while your brain is saying be long USDJPY, your eyes
are sayin’ and seein’ something entirely different! … as a position trader, it’s a
very nasty problem to overcome … as a scalper, each day is its own “bull / bear”
market and nothing else matters except what the chart is showin’ you.
I noticed last week and observed over the weekend, that as far as the non dollar
crosses are operating, the paradigm for any of ‘em seems to me to be shifting to
much lower ranges and VIX … and since the world trades mostly the YEN
crosses, as I’ve said before on the blog, the other central banks of the world
appear to be silently supporting the BOJ and not allowing the VIX we would
normally be seeing to occur … pre 2008 financial crisis, Cable / Yen enjoying
300+ PIP ranges almost every day … now 15 years later, we’re lucky to see the
20 Day Range MA at around 150 … and a lot of that coming on “opens” for the 3
world sessions, or on economic reports that can’t be captured cuz they happen
in microseconds … take those away from the equation, and Cable / Yen is lucky
to see 100 - 110 PIPS from any kind of normal trading environment … adding
further insult to injury, the present day “risk on / risk off” [RORO] horseshit that
comes from the ChiComs at the start of every single frickin’ day, sees dollar
pairs moving together as a block, much more than in previous years and
decades where USDJPY would almost always move contra the other dollar
pairs.
ChiCom deflation the “meme dujour” … and suddenly, and by no means a
coincidence [just like last time USDJPY went bat shit crazy (BSC) to the upside
in 2022], the banks get saved with massive USDJPY selling that seems to have
come out of nowhere … and the long positioned specs, are getting hunted by the
“Elmer Fudd banks” … and through all of this, the better pair to trade is USDJPY
and not GBPJPY … starting tomorrow, USDJPY becomes “home”, as
“gap trading” in Cable / Yen gets ridiculous … just too many algo signal
opportunities getting blown through that would have seen us get hosed by
multiple PIPS … what does a higher range mean if you can’t get the trades you
want when you want them? … you want to buy it at 15, and it’s at 23 before you
blink your eyes … well, the “gap trading” in USDJPY not nearly as bad as it is
in Cable /Yen … so whatever of the 3 pairs has the higher 20 Day Range MA
[EUR, GBP, JPY], I’ll trade that for the PAMM … no trades today for the PAMM
… we’ll pick up USDJPY for a little bit in Asia tonight, and then hit it harder
come about 5 AM EST.
Over at IQCENT, with BTC stuck in mud, a very quick change over to NDX100,
where the action picks up with the criminal money laundering NYSE open … and
the “Special Trading Algorithm v2” working perfectly in this delusional tech index,
where BTFD-ers are always lurking to send it higher … we just have to be a
microsecond faster than the Newbie Chumps using traditional indicators to call
for a move higher … and cuz it’s the world’s favorite tech index, they show up in
droves! … “The Syndicate” UP APPROXIMATELY 1.2% … onto tomorrow!
… 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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