“Now I know who runs FX!”
A glance at the 20 Day Range MA’s from the Sunday blog update, and no matter
the market, the numbers are either at records or very near … things simply can’t
go on like this without a wholesale breakdown of modern day trading finance
… GBPUSD at approximately 328 PIPS can’t be sustained, and over the next
weeks into Summer is poised to go down significantly … today not even barely a
100 PIP range at NOON EST … today a masochists dream, with up/down moves
to the Asian session tips inside the glorious “Flying Wedge of Death” [FWD]
... third day in a row of this bullshit … “why do I have to be stuck in this kind of
day? … why can’t I be stuck in that day I won the lotto”?
GBPUSD today simply a psychotic mess, all inside the lowest range day [so far]
since February 27th … can’t break, can’t really rally unless following USDJPY
lower, and the rally today about the ugliest you’ll ever see … again, like every day
this week, low range, FWD, and mucho spikes up/down from hell … one second
it’s here, and the next second it’s 15 - 50 PIPS away … sure, honest markets.
And while VIX across the board is dropping some cuz the all out panic selloff
has abated for now, you simply can’t assume large ranges and very large moves,
very quickly are over … that kind of an assumption is likely to get you hurt
… IMHO I don’t think it’s over, and I don’t think the shortage of dollars the world
needs is over either, and so bottoms in everything seems a bit premature at this
point … it looks & feels like Cable is getting some kind of intervention support
… off the bottom we’ve seen nothing but buying straight for 8 days now, which is
quite unusual for an FX pair that literally fell off a frickin’ cliff from the 1.32 level
all the way down to 1.14 … the complete “one way” action we’ve seen is strange,
very strange … but, this is “The Widow Maker”, and it’s got that namesake for a
reason.
Again today, some good algorithm buy signals, and again today all but two of
them blown through signals price like a blowtorch through a stick of butter … I
guess the scumbag LP’s know what I know.
Two algorithm buy signals today … TURNKEY PAMM / MAM basically “UNCHD”.
After commissions, down a couple of dollars collectively over the PAMM, with
the first signal losing and the second profitable … and really, it’s only due to
risk control that the first lost some PIPS, cuz it turned around and would have
been a winner if held onto … not playing that game in this environment. Three
days in a row of tight ranges, sloppy trading action, and essentially 3 “doji’s” on
the daily candlestick chart … enough of this shit, move somewhere!
… amazingly, bid/offer spreads coming in some, with the FTSE100 “almost”
back to normal … if I see any decent algorithm signals, while the spread is
decent, I may make the trade, otherwise it’s Cable.
… until tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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