CABLE JOINS “THE WALKING DEAD”

“I showed him today’s M1 in GBPUSD … smart kid!”

Where do I start with this POS for today? Yea, I knew Sunday night the news calendar was backloaded to Thursday & Friday, where we should get some price movement fireworks, and I said yesterday things could … could be slow until then … but this? … “why do you have to listen to me on this? … And then abandon me when I’m asking for a little attention on price movement in my profit direction”? [Stupid aliens in another dimension!]

You know things are bad, when 6 hours into trading we got a 30 PIP range [European open] at the extremes, with “mystery ticks” galore on the sell stop bottoms; more like a 20 – 25 PIP range, and the average is 50 – 70+PIPS. Yes, people are waiting on Grandma Yellen, who speaks in the New York early afternoon … she’s retiring, what’s she gonna say other than, “please JPM or Squid … hire me as a consultant for 7 digits plus”!

One of the problems Cable has at the moment, is the abysmal HR4 “Flying Wedge of Death” [FWD], since October 18, 2017 [2 weeks and counting with expanding highs, then lows, then back and forth; each time hitting yet another new high/low, and then reversing quickly]; the HR4 directly below.

Let me sum this up for position traders in 2 words; “1) Yuck, and 2) losses”. And so, until this gets obliterated, expect daily M1 activity to be very sloppy & choppy … where it literally takes 10 minutes to go down the “4 steps down, 3 steps up” routine from say 37 to 30, and 3 seconds to go from 30 to 36.

And once again, for the second day in a row, Asia & 80% of Europe do nothing, and starting about 90 minutes before the European close, here comes the short squeeze in earnest; the entire day has been nothing but a stop hunt … first on the downside with grinding action lower into a low, then BOOM!, up 3-7 PIPS literally in 2 seconds … then, as if somebody blew a whistle and said, “ok, enough … time to go the other way”!

Approximately 80% of the day, the 121 & 183 EMA’s were flat; the other 20% of the time, very slightly negatively sloped, with action in the last M30 showing a little tilt to the upside, now that price is back at the 1.3150 area. Every sell signal came when the 121 & 183 were flat, and the buy signals came when they were flat or negatively sloped. All-in-all, a crap day with tight ranges that jumped quickly and then saw any gain wiped away.

Gtrandma Yellen speaking this afternoon at 2 P.M. Eastern time … all day, I thought the lows were a buy, but the algorithm just couldn’t sustain anything long enough to get me long or short … simply put, everything was “out of sync”, and it sure looked and felt like anything you contemplated doing would be an immediate loser. In addition to that, Saudi Arabia rumors on all of the arrests against the “big wigs” has got some people very nervous … what’s real and what’s for show, and is it more serious than what appears on the surface? Too early to tell, but combined with everything else going on, traders have “stepped back” today and let the scumbag LP’s run “roughshod” over retail spec stops all day long; bottom line is this … today has been nothing short of a giant transfer of money from yesterday’s gains … banks sold the 50’s, 60’s, & 70’s, and today bought the 30’s, 20’s, all the way down to the low around 08. And really, this level had to hold, cuz if it doesn’t and we get under 1.31 again, those sell stops down to and under 1.30 come into play … and they come a lot quicker than anybody realizes when SHTF and people are caught long. So, it’s little wonder today is a big piece of kitty litter.

A legit buy signal, here in the early afternoon of New York in Cable, but I know what the algo doesn’t … namely Yellen to speak within the hour … no thanks, I got no room to give blood today.

However, earlier today, USDCAD put in the first of a series of excellent algorithm moves, the first directly below.

This is textbook Scalper’s Algorithm, buy at the white arrow and liquidate on the SAR, right on top, with both the 121 & 183 EMA’s sloping nicely positive on the pullback.

Well, here we are only a couple hours from the NYSE close, and as far as I’m concerned, a “FWD” in Cable … I hit the computer about 3:30 A.M. New York time, and Cable was at about 1.3150 … fits and starts down in a “4 step down, 3 steps” up psychotic trade that saw mystery ticks for lows, and immediate 5-7 PIP rallies that went nowhere … fourth new low, still only 40 PIPS from the extremes, sees a massive short covering rally that takes the market back up and hits a new high since I came in, up at 60, and of course it goes nowhere … as I write, back in the 40’s, not but a few PIPS from 11 – 12 hours ago. Needless to say, no trades today in Cable; not only did the algorithm components not sync up, the low for the day wasn’t “low enough” to use any of the “special situation” setups I mentioned in the manual to get long, even though the low showed a “hammer” and a “bullish engulfing pattern” on the “fat” portion of the candlestick … In the end, I simply sidestepped the FWD and did not take the “bait”.

Ok, apparently Grandma Yellen isn’t saying anything of importance, cuz no market is moving … day looks to be over, and it couldn’t come soon enough for me … what a bag of bat guano in Cable.

PAMM spreadsheet is back, directly below … Until tomorrow … I’m outta here … Onward & Upward!

Have a great day everybody!

-vegas

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