“Another FX trader waits patiently for any kind of move in Europe!”
The “Chuckleheads” may be predictably wrong, every night in Asia, but at
least they frickin’ do something … “WTF is wrong with Europe”? … not a
rhetorical question, and I’m left wondering if it has anything to do with new
financial regulation throughout the E.U., that clamps down on brokers &
banks … I mean, why trade there? … and increasingly nobody is, judging by
the price movements & ranges seen from the Asian session close to the early
start of Wall Street around 7:00 - 7:30 EST. every morning … without Wall
Street early risers, FX has turned into a wasteland of nothingness.
True to form, again last night, Mrs. Wantanabe & gal pals couldn’t decide
which side to panic over … so they did both [just to cover themselves I’m sure]
… first the President Trump tariff news, which sent price of EURUSD
immediately lower, and when that didn’t work, hours later at the start of the
“witching hours” [2 A.M. - 4 A.M. EST.], panicked EURUSD to over 1.17 “cuz
this time it just has to work”! … errrr, no … and then spent the last 90 minutes
of the session taking it back to “UNCH-ed” … “nice job … next time stay at the
casino playing Pai Gow, at least they’ll give you drinks and a free buffet”.
But Europe? … good grief, these guys are giving me the “vapors” … “only the
dog sitting dutifully next to me at 4 A.M., keeping me awake cuz he constantly is
reminding me to get him some deli roast beef & applewood smoked bacon from
the “impenetrable bacon box” in the kitchen, is keeping me awake and preventing
me from slipping into a coma … it sure as hell isn’t any trading action in
EURUSD … hell, you could use EURUSD M1 chart action to cure insomnia”!
And after the first two [2] hours of trading, EURUSD has put in about a 13 PIP
range from tip to tip … at this rate, by 3 P.M. EST. later today, we might have a
26 PIP range [snark].
Of course, all this presupposes no Pie Hole and/or Apparatchik comes forward
and attempts to fill the mistress fund up with some coin, at which point
intraday volatility goes from “morgue status” to “lightning bolt” in less than a
second … cuz the way financial markets trade anymore, nobody seems
interested in doing anything unless somebody paves the way … in which case
the market becomes one gigantic fucking game of musical chairs … “where you
gonna be when the music stops, and can you find a chair”?
“Hmmm, I’m looking for that option in MT4 technical indicators, but can’t seem
to find it”.
There is the possibility, that market participants are so confused and rightly
concerned by upcoming U.S. midterm elections in November, and simply refuse
to trade seriously until then … indeed, the stakes couldn’t be higher, cuz
anything the “Free Shit & Obstruction Party”, [a/k/a “D’s”] controls means the
party is over in the U.S. for the economy and just about anything else. If that’s
the case, it’s gonna be a mean next 50 days or so trading this “chopfest” bucket
of shit … it remains to be seen of course, but looking to the ECB or economic
reports for guidance, and you might as well go to the “Madam Cleo” psychic
phone hotline … you’ll get better advice than from any of the clueless Twits in
Europe.
Turning to today’s EURUSD market … “nothing like our old friend, the
“Flying Wedge of Death” [FWD] to show up and rip both longs and shorts new
ones … and as if I’ve got premonitions or somethin’, when does the action start?
… well, right at 7:33 A.M. EST., as the “early birds” on Wall Street hit their
trading desks and yearn for action, and outta nowhere take EURUSD on a 10+
minute 25 PIP run straight up … something apparently that can’t happen in
Europe anymore cuz STFU”! … and while traders look for big moves, the
scumbag LP banks grind them into the dust like an Atlantic City casino
… the FWD going just far enough to set off MA’s & other technical buy/sell
signals at exactly the wrong time. And after about 3 hours, with 3 panic ups
and 3 panic downs, we’re about 10 PIPS from where the mess started
… “somebody is really trying hard to shove this crap higher, and each and every
time it gets shoved back in somebody’s face … let’s see where this dust settles”.
And now that we’re into the NY morning, and both sides of the orders book
has been wiped clean out, it’s gonna be tough to see this massive 57 PIP range
[snark] get expanded, especially since it’s tried several times on both sides and
failed miserably … “it’s almost as if every trading day now is becoming an
“NFP Friday”, where small action in Asia gets you to Europe where people
remain asleep until U.S. traders get to their desks, and then there is this very
small window of trading that lasts about 2 -3 hours … then, you’re within about
an hour of the European close, and after that the “three amigos scumbag banks”,
namely Squid, JPM, & Citibank, take over into the new day in Asia … and then
you ask yourself, what really happened here? … and most days, the honest reply
is not a “Hoover Dam” thing … EURUSD still stuck in mud with ranges that
insult pathetic”. Seriously, I don’t know how anybody can position trade any of
this and not get whacked on a consistent basis … you take the risks, but the
rewards come very slowly.
When you consider the halfway points in tight daily ranges, it doesn’t take
much to get traders nervous about their positions, on either side, when all it
takes is something on the order of a 10 PIP move to swing momentum from
positive to negative … of course, the scumbag LP banks pick up on this cuz
they can see order flow and know in real time “net” brokerage house positions
of all customers, and why should it be a surprise when the spikes show up and
clean out stops?
Cuz when you find yourself inside an FWD, or a tight range day, you’re gonna
see spikes that make you think, “Oh wow, this shit is gonna go now … and once
you get the shit fill from the LP, it stops on a dime and spends the next 15 minutes
either going against you or sideways … and before you know it, the momentum is
long gone into the ether”. And … and … it’s all bank run bullshit to get you to
do what they know you will do in the collective, which is to buy high and sell
low … case closed, rinse & repeat as often as you’ve got money left … today
being the latest installment of horseshit trading with small range’s that get you
to change your mind about 13 times in 3 hours. And to finish this theme, all you
gotta do is look at the M1’s after about 10:30 AM - 11:00 AM EST., and see the
M1 spikes followed by nothing … “you aren’t seeing the start of some trend,
you’re seeing somebody panic and the bank ripping them a new one … and when
that’s over, what’s behind it? … Nothing, that’s what … until the next time they
get themselves positioned to take advantage over the retail spec community and do
it again”.
Only one algorithm trade today … PAMM up a couple of bucks.
Directly below, the day’s algo signal trade.
click too enlarge!
trading conditions … today not only sees a small range, but the FWD as well.
The one trade I did, we got “ripped a new one” by the LP, as I went to buy at
1.17038 and got filled at 1.17065 … worse than the fill as a simultaneous order
on the C2 platform @ 1.17062 … however, liquidating was the same old
bullshit, different day story, as the scumbag bank LP at Turnkey felt the need,
in an F-ing rising market, to fill me at 1.17070, whereas C2 got me filled at
1.17078 … fucking thieves, what else can you really say? The entry fill, of
course, not being “ideal” or even close to what I was looking for, means simply
again that once it turns profitable and starts to move, you’ve got to liquidate.
But seriously, how in a rising market do I get such a shit fill? The bank won’t
even address the issue.
Noon time in NY, and that means Europe is closed, and all that’s left is the
“game playing” with Squid & the boys in FX … thanks, but no thanks
… they’re the worst of the bunch, making the other scumbag LP banks look
like Boy Scouts. You wander into this mess, and it’s your own fault
… especially on a “do nothing” day where “chop” is the highest probability by
a long shot.
In other news of importance, Cousin It has finished work on his favorite FX
Euro cross pair [and mine too, which I’ve traded off/on since electronic trading
began], which is EURJPY … while there are some differences in algorithm
rules, the “-vegas EURUSD Algorithm” works as well in EURJPY, as it does in
EURUSD. In fact, it makes more money cuz the volatility is greater by a 50+%
margin, over and above EURUSD, with only a 2/10ths of a PIP average
difference in the spread.
So, I’m making the “command decision” to include “EURJPY” in the Euro
signals over on C2, when and if I trade it for the PAMM … not every
algorithm signal will be followed in EURJPY if I’m involved and trading
EURUSD. THIS IS A BONUS FOR SUBSCRIBERS, AT NO INCREASE IN
COST FOR ADDING POTENTIAL EURJPY TRADES. Over the coming
weekend, I’ll change the C2 “Information Tutorial” and add EURJPY. Quite
frankly, I’m sick of bullshit trading ranges and skimpy price movements … on
days when I feel it advantageous for the PAMM to trade EURJPY, it’ll add
more intraday volatility and more trading opportunities for C2 subscribers
… this one trade a day crap from one algo signal is for the birds! … “I need
MOAR”! And besides, given the fact we’ve been “hosed” three [3] days in a
row getting EURUSD fills, I don’t see how EURJPY can be any worse [knock
on wood quick!]. So, this should give some “OOOMPH!” to our trading, while
still using the same EURUSD algorithm … judging by the results, Subs will like
it too! I see in closing here, EURUSD has spiked dramatically lower to take out
sell stops and hit a new low for the day … let’s see; first a new low, then a new
high, trip back to the low, then new highs for the day, and now a new low
… classic FWD, and with nothing here but Squid & the boys, if you sell the
spike lower, you have my condolences. I want no part of this clusterfark in a
New York afternoon, with zero volume and even less liquidity.
So, onto tomorrow … I said yesterday the PAMM Spreadsheet would be back
today … nope, I’m not happy with the format … so, while I’m days close to
putting it back on the daily blog posts, it’s not ready yet for “Primetime”
… and when it does comeback, all C2 signal trades will be on it. I’m outta
here … until tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!!
-vegas
OUR TURNKEY FOREX “PAMM/MAM” IS NOW OPEN AND
OPERATIONAL; SEE “PAMM/MAM MONEY PROGRAM” IN
“DOWNLOAD LINKS” SECTION IN RIGHT HAND COLUMN
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START YOUR JOURNEY FROM WHERE YOU ARE AT TO
“ESCAPE TO SUCCESS”!
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