Yes, that seems “normal” doesn’t it? … after getting monkey hammered into
oblivion late yesterday afternoon, both ETH & BTC go orbital in the Asian and
early European session, and I hit my screen this AM, and ETH has already got
an approximate $470 range … sure, perfectly normal in the nuthouse located
in “The Twilight Zone” … worse for BTC, where I don’t have a clue how anybody
mitigates risk exposure in a market that goes up/down at the speed of light
… get on the wrong side of this trade, and the HFT LP will skewer you worse
than shishkabob at a barbecue. Normal models of volatility “off the charts”,
especially the m15, where RM=4 isn’t holding anything … these are dangerous
markets!
RM = 3 & RM=4 HOLDING SUPPORT AND RESISTANCE ON THE M1, reflecting
the highest volatilities we’ve ever seen in ETH … bid/offer spread is all over the
place, so you can’t buy up spikes and expect any decent fill … today starts the
same as every other day in recent memory, with Asia & Europe blowing it up,
and then NY in an “extend & pretend” keep the gains while setting off sell stops
and then rinse & repeat … we have yet to see Asia and/or Europe maul the shit
out of crypto and then for the NY session to bring it back up … how likely is
this to continue?
Well here we are with this massive “bigly & yuge” range and the criminal,
money laundering NYSE open about to commence, and the last 4 hours in
ETH a complete chopfest bag of shit, giving new meaning to the “Flying Wedge
of Death” [FWD] yo-yo from Hell … typical … the “extend & pretend” starting
early today … seriously, what’s left? … maybe we get some movement maybe
we don’t, but history isn’t kind when shit like this happens, and we got a
“Twilight Zone” range for the day and the day hasn’t even started!
In this month-long runup in price, we’ve yet to see Asia & Europe go lower and
then have positive flows in NY, with both the m15 and m1 going higher,
WITHOUT the range already being blown to shit earlier in the day … we’ve
gotten some FOMO flows to be sure, but in order for those to work profitably,
you better see action heretofore unseen in markets … and of course, that’s what
we’ve seen! … but for how long? … you keep buying FOMO, and when it burns
out you’re screwed … remember, EVERYTHING has to happen at some point,
but that doesn’t mean it’s the optimal way to trade … hang your hat on
consistency, not wishful thinking that may or may not ever happen in your
lifetime … how do you make a living from that?
The upshot from this setup scenario that we’ve seen lately is not optimal … from
a scalping perspective, it means the m15 is spending way too much time in
negative price slope for the session I’m trading [NYSE], and that usually means
rough and quick m1’s up followed by nasty ass downdrafts … flip that around
and I’ll do larger volumes cuz the “wind” is at our backs for the trade, but I’m
not about to get blindsided by killer m1’s going deep red and forcing me to sell
a “Thelma & Louise” trip down … you wanna see slippage? … trust me, there’ll
be slippage that will choke a horse!
Only one PAMM trade today in ETH … every day waking up and seeing price
already having exploded higher in Asia or early Europe is bullshit … WE’RE UP
SLIGHTLY … ONTO TOMORROW.
… 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