To quote Captain Obvious on FX markets, “clearly these markets are different
from before the 2008 financial crisis!” … I’ll take it a step further … they are
fundamentally and forever different from January 2015, when we had the great
EURCHF debacle … and from the ashes of that complete central bank
Apparatchik Clusterfark, we’re only a scant 6 ½ years removed … and up and
until when the revolution starts lopping off central banker heads from shoulders,
the paradigm we got now for trading is gonna be a permanent resident
… welcome to “Reversal City”!
We’ve always had reversal days in trading … happens very often … but the
occurrence of double, triple, and several times we’ve come close but no cigar
yet, the quadruple reversal, have been quite rare … not any longer, cuz they
happen with regular frequency far greater than anything seen since before
January 2015 … and not just the non dollar crosses, but the dollar majors … this
is no accident, but a direct result of central bank manipulation carried out by the
scumbag LP banks … the U.S. session hasn't even started yet, and already today
EURUSD has seen a double reversal … granted, the range so far today is rather
smallish, but still, it’s what happens when VIX gets controlled and manipulated
and players are forced to hit the “exit gates” that extend the range via stops
… exactly where to the point the banks will be to buy or sell back to you shit you
took from them only a short time ago … thanks, come again! … and this gets
played out now almost daily … quite frankly, I can’t even fathom anybody
attempting to “position” trade any of this shit cuz you’re playing in the rigged
casino of all time.
About 15 years ago, I used to trade at Saxo Bank … I traded GBPJPY & EURUSD,
and I remember vividly a Saxo VP telling me that in my lifetime I wouldn’t see the
2 PIP then spread in EURUSD, and the 6 ½ PIP then spread in GBPJPY, ever get
any better or cheaper for retail specs … EVER … so what happened?
… 1) competition from others, and 2) the entire FX space has changed since
‘08 & ‘15, and it isn’t the same group of markets now that existed back then … and
this idea of “trend” has been obliterated in FX … the only “trend” now is what
some group of Apparatchik central bankers say it is minute-to-minute,
day-to-day … and the scumbag LP banks are only too happy to oblige and be the
middleman in everything … as I said before, why do banks & HFT’s do what they
do as “super scalpers” making markets? … cuz for themselves, it’s where the
money is!
At present, EVERY SINGLE major central bank has one objective … DRIVE
THEIR CURRENCY AS LOW AS THEY CAN GET IT … everybody in a race for the
bottom … the only problem is, is that can’t be done … and IMHO, it’s why we see
so many multiple reversal days in FX now, cuz the manipulators don’t or won’t
let FX rates go where players think they should be going … and in the middle of
it all specs get crushed as banks play the order flow game.
For the longest time, in many markets I have wanted to trade from one side only,
usually the long side … but as manipulations mount, and statistical evidence
keeps piling up, it’s clear I AM DEAD WRONG ABOUT THIS IN MANY MARKETS
… to be sure, I still think gold and silver should only be traded from the long side,
but my convictions on this subject are wavering … quite frankly folks, if gold &
silver can’t rally given the current inflation numbers, insane money printing we
see now, what gets them to rally? … and if you venture into “Stock Bellies”, the
current “88/6/6” paradigm in this corrupt complex makes being short a death
wish on most occasions.
From a scalping standpoint, I think EURUSD, GBPUSD, & GBPJPY can be traded
from both the long and short side … there are simply too many small runs of
days strung together to be one sided in a trading approach … usually running
anywhere from 2 - 5 days many times before turning tail and heading the other
way on the daily charts … for example, in 2021 so far, EURUSD has only 35
trading days where either UP OR DOWN is only 1 day in a row [out of about 125,
or roughly 30%] … the rest are multiple days going UP or going DOWN! … and
the numbers for the other 2 markets are close to EURUSD … and this makes
sense when you consider small runs pull in the largest order flow from specs
cuz they become convinced a “trend” is developing, and they get some
MT4 / MT5 signals that get them long or short … and when that order flow
stops? … BOOM!, watch how frighteningly fast it moves the other way trapping
specs in their stops … rinse, repeat, it’s the scumbag LP bank PLAYBOOK!
Markets continue to trade horribly … simply awful … granted it’s Summer, but
this is ridiculous, especially the European session, which is a total joke, although
the afternoon U.S. session isn’t any better … ranges are on the whole declining,
although today’s clusterfark comedy show comes courtesy of some PIE HOLE at
the BOE talking shit about rate rises sooner rather than later … that juiced Cable,
which juiced GBPJPY, and it allowed the range to hit its 20 Day Range MA of
about 120 PIPS … other than the 4 minutes of short covering stupidity / panic
that immediately commenced after his “thoughts” had been publicized, GBPJPY
would have been as bad as EURUSD, which is extremely under its
20 Day Range MA.
Although there were many algorithm signals today in GBPJPY, only one really
mattered IMHO … the rest came during chop conditions after the BOE PIE
HOLE … TURNKEY PAMM UP SLIGHTLY LESS THAN 0.1%
Even with shit trading conditions, the scalpers algorithm is as good as it gets
… looking at EURUSD & GBPJPY, and starting today I’ll be considering both
long & short scalps, this starts our journey towards really good performance
results for the PAMM going forward … Giddyup! … gold & DOW30 are different,
but if I need to if conditions get really ugly in FX, they will be standbys as we
move ahead.
… outta here … “the future’s so “GOLD”-en bright I need sunglasses”! 😎
… Onward & Upward!!
-vegas
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