FALSE ALARM … RESUME HIBERNATION

“A/K/A Cable trading instructions!”

 

From today, GBPUSD M5 candlestick chart with algorithm directly below.

 

 

Again, for like the zillionth time, Cable comes to life minutes before the retail 

sales numbers in the U.K. … Asia has been dead all night, but now comes the 

manipulators again right before a major economic release that will move the 

market, and Cable gets “gaslit” again upward into the report, where as you can

see, it jumps about 25 PIPS in less than a millisecond … add a few more PIPS 

for “shits & giggles”, and it’s pretty much a wrap for the next 10 hours.

Yesterday I was hopeful this kind of trading action was over … “yea, never mind, 

Ok”? Not much to say about a market that can’t move to save its lousy life, and 

again we find ourselves on the daily candlestick chart with another ‘doji” 

spindle … 10 minutes after the retail sales numbers, there’s no range, no 

volume, even worse liquidity, and of course slippage from the scumbag LP’s 

goes into hypersonic gear, cuz they got to make money somehow, and since 

there aren’t any large corporate orders to front run and screw over, retail gets 

the nod and the HAL9000 gets new marching orders for fills.

And really, boiling it all down, it’s the same old shit … just a different day, 

where no matter what happens there’s no follow through at all … it’s spike up, 

spike down, lay around for a while, rinse & repeat endlessly all day, and 

through it all hand out slippage that would make Vito Corleone blush with 

envy. “Sure … tell me again about market conditions”. 

Three trades today … PAMM down slightly, collectively about $20 … again, 

treading water, while this market can’t make up its mind what to do or when to 

do it.

As I’ve said before, all we can do is wait it out … increasing volume & leverage 

is “stupid shit” in this type of trading scenario, cuz the slippage will be worse, 

and the market won’t let you make anything back … all that happens is that the 

hole gets deeper and wider. Add to that the increased slippage, and it’s an 

extreme losing proposition.

Today sees 90% of our 12 hour trading day with about a 30 - 40 PIP range 

… historically, it’s well over 100 PIPS, so that will give you some indication of 

the bullshit level that is currently the fashion du jour in Cable … someday we 

get back to normal; “well, this day wasn’t it”. Nothing really left to say, cuz the 

entire day after the retail sales report was simply a “chopfest”.

On to tomorrow, where GDP is out in the U.K. at 4:30 A.M. EST … maybe that 

can move things … “how about it Mr. Market”? In any event, we’ll see what 

happens … I’m outta here … until tomorrow mi amigos … Onward & Upward!!

PAMM Spreadsheet directly below.

 

Have a great day everybody!

-vegas

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