The trading day well past half over, and EURUSD has a 25 PIP range … seriously,
is this shit even open? … gold getting “monkey hammered” under 1800, and the
scumbag bullion dealer banks have got total control over that sick market … even
crypto, specifically BTCUSD, slow considering recent activity … after yesterday’s
selling bloodbath of sell stops from nearing all time record highs, I can
understand today’s lack of action cuz the order book most likely has gotten wiped
out, and there’s more than a few people sitting back and assessing the damages.
Election fraud court hearings will roll into motion starting next week, and we’ll see
if the judiciary system of the U.S.S.A. is as UTTERLY CORRUPT as the rest of
society, where in the body politic, corruption, bribery, graft, & influence peddling
are resume enhancements … my guess is they are, cuz they’re all mostly corrupt
lawyers to begin with, and being any kind of judge is the “payoff” for past
beneficial deeds bestowed upon corrupt political machines … it’s certainly that
way at the state level, where “Better Call Saul” has higher ethical standards! … at
the SCOTUS level, of course there are the 3 complete Libtards, so everyone knows
they are complete “in the tank” POL hacks, and if things get that far, I’ll be
interested to see how “turncoat” Roberts plays his hand … I’m convinced the
“Deep State” has something on him, and under no circumstances can he be
trusted to “follow the law” … his judicial writings are a complete mess, and his
betrayal on ObamaCare was the writing of somebody who has some kind of
mental illness … but with ACB now a justice, conservatives have a solid 5-4
majority, so to hell with Roberts … so, interesting to see how this plays out cuz
there’s no way Creepy Uncle Joe won the election WITHOUT MASSIVE FRAUD.
I’ve spent a lot of blog time recently on Bitcoin, and rightly so cuz it really moves
and is far, far different than anything witnessed in traditional markets … today,
though, some comments on EURUSD … I’m somewhat confused by the utter
collapse of gold over the last 15 trading days [that would be 3 weeks for you
Obama & JoeMala voters … I know how hard Common Core math must be for
you.], almost $200 per OZ., and at the same time about a 40 PIP rally in EURUSD
… with gold getting monkey hammered, I’ve been looking for drops to trade, but
outside of one day where we had a “data deluge” from the Dept. of Unicorns &
Fairy Tales with better than expected economic expectations, EURUSD refuses to
even put in a tiny drop … “and no Skippy, 7 PIPS is not a correction” … how do
you square this circle? … I’m not sayin’ they gotta go tick-for-tick, but historically
the correlation is roughly there … well, not the last 3 weeks it hasn’t!
The main problem with EURUSD from a trading perspective, has always been one
of CONSISTENT & STABLE volatility … one day you get a 130 PIP range and your
thinkin’, “well OK, here we go, about time … maybe now things can pick up!”
… then the very next set of days sees 45, 60, and 53 PIP ranges and you want to
shoot yourself cuz it ain’t movin’ … rinse, repeat, and it becomes an exercise in
frustration over time … sure, the bid/offer spread at Turnkey is one of the very
best out there, normally around 0.1 - 0.3 PIPS, and a very low RT commission,
meaning your cost to trade is usually UNDER ½ A PIP, and I’ve had very few latency
or slippage issues in the pair … so, the logistics of the pair is not the problem, and
in fact couldn’t be better … nope, the problem is VIX, cuz when it decides to go
“bat shit crazy”, the scumbag LP banks don’t send out warning emails … and if
you get caught in any of that, it’s usually a “one & done” kind of “loser formation”
where you got NADA chance of making anything back that day.
And the main problem with small ranges is that you absolutely know they aren’t
gonna stay tiny … and that means every single PIP move away from the range
median for the day, gets traders who are on the wrong side of the trade to “shat
their big girl panties”, and panic … and generally gives way to relatively larger
M1 spikes from hell, both up & down … and it becomes “sit, sit, BOOM!! … rinse
& repeat” … and while many traders don’t realize it until they add up the
scorecard, a small range day can deliver some whopping losses … “many people
have the mistaken belief that most market professional traders get wiped out via
much higher VIX … nope … it’s the low range days that fill up the
“Trader Graveyard”, and it’s almost always been that way since FX came about
in the 1970’s”.
It didn’t used to be this way prior to the 2008 financial crisis, and it got much
worse after the EURCHF debacle in January 2015, and ever since then it’s been a
slow walk down in terms of FX VIX, to where we are at now which is near record
lows from FX trading starting in the early 1970’s … thank you central bank
manipulators! … all you have to do is look at Bitcoin, which is a currency, and see
the difference in how they trade … Bitcoin is FREE from government interference,
while traditional FX is all about manipulation by the scumbag LP banks, on behalf
of their OverLords the central banks of the world.
So yea, I’m a little confused with the Euro strength at the moment … either gold
or EURUSD is lying “bigly & yuge” … and with a slightly modified algorithm, to
take into consideration lower volatility, EURUSD trading for the PAMM / MAM
should be good going forward … even with lower ranges, we should be OK … not
ideal but marginally acceptable.
Even with the scumbag LP banks in New York, today’s range was pretty lousy in
Euro … it got expanded a little as the usual suspects appear to have run buy
stops above 1.19300, and we got up to 1.19615 … it came off that pretty quick, so
now into the New York afternoon and Europe closed, the day is over unless
something on the news front breaks … otherwise traders are out the door the day
after Thanksgiving … EURUSD ended up with about a 57 PIP range day … earlier,
it was far worse than that … I’ll be looking to trade it heavier starting Monday
… No trades today in the Turnkey PAMM / MAM.
Over in Bitcoin, what do you say after it gets shellacked by 3K yesterday? … since
I hit the screens, not much of a range either … about $200, which isn’t bad, but
given the last 3 weeks it’s probably the smallest in that time … I’ve been looking
for some “suicide shots” to the downside since I’ve started the day, and we had
one in late Asia while I was sleeping [of course we did!], and missed that by about
an hour and a half … since then nothing much going on, but some serious and
wicked chop … I haven’t done any trades today for “The Syndicate”, and I’ll be
looking at the market tomorrow for a while … quite frankly, this market needs to
“check itself” for some serious exhaustion, and slow the hell down for a while
… not at all sure we’re gonna get that, but what we saw earlier in the week
culminating with “Turkey Day” action, this can’t be maintained or sustained
without some serious damage to the market internal wise … just not healthy
getting such large swings so quickly, cuz it drives people away from the market
and hurts volumes & liquidity going forward … but, we’ll see what happens.
Blog update on Sunday … until then … Onward & Upward!!
-vegas
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