PICK YOUR POISON

 

“By Friday, your fingers will be gone!”

What the Hell is this? … granted, I understand the Spicoli / Bostic “bad cop /

good cop” screw job put on EURUSD shorts … but off a 21 month low, now it’s

3 days of straight up [excluding late New York & parts of the Asian sessions] for

about 200 PIPS? … and as I write, the panic melt up continues with ZERO

corrective activity, with the ECB tomorrow and NFP Idiocy on Friday … who

knows what that we don’t know that’s willing to put BILLIONS in play before both

KEY EVENT RISKS?

Today sees the range expand, a welcome development, offset by straight up

buying … since Asia saw it’s last hour, EURUSD has had no corrective activity

whatsoever, and now the sun is up in New York … sure, pick your poison … either

buy the strongest rally this shit has seen in 2+ years and close your eyes and hope

there’s a bigger idiot than yourself, OR let it go and wait for a correction that may

never come and leaves you wanting to see if you can swim across the ocean

… what kind of trading Hell have I wandered into? … and it’s no better in USDJPY.

The “London Fix” comes & goes, and not much to report there … it’s not that the

scumbag bank LP’s all of a sudden got religion, it’s the fact that buys & sells from

the corporate “Jimbos” are roughly balanced today, so no need to screw one side

or the other badly … and unless something miraculous happens in the New York

afternoon, we finish the day in EURUSD with a 64 PIP range, less than a handful

of PIPS from its 20 Day Range MA.

Only one algorithm buy signal today in EURUSD … TURNKEY PAMM UP

SLIGHTLY.

Once price had topped out after the ADP report, we got our first correction of the

day, and while we got the buy signal very near the low of the corrective move, I

wasn’t at all happy with the fill I got to get us long … thieves, top to bottom

… liquidation was right on the money, but still … now we’re into the New York

afternoon, and if you missed my advice yesterday about trading New York

afternoons, go back and read it, cuz virus scum Wall Street banks did exactly

what I said they do … they run stops on both sides, they create chaos, and they

hand out shit fills via slippage, usually in a tight ranged “Flying Wedge of Death”

[FWD] that only is gonna see you bleed & them profit … “sure, come on in

… those big sharks? … nahhhhhh, they’re harmless … here’s your fill, you’re

welcome”!

So, unless there’s a reason(s) to, leave New York afternoons alone, cuz my

decades of trading experience has shown me in spades it’s a losing proposition

for specs … earlier we had seen German inflation reports come in very hot, but I

don’t think the ECB will do anything tomorrow … per their usual bullshit,

everything is on hold … however, what traders will be looking for is forward

guidance to H2 2022 and what the tea leaves show there … given the latest 3 day

rally of 200+ PIPS, IMHO it’s shaping up to be a non event and ripe for some

“profit taking” [thank you Bob Pisani, CNBC / North Korean biz channel, perma

bull hack!] … and while today wasn’t exactly a “barn burner” range or trading

action wise, it was good enough to give off at least one signal, notwithstanding

the straight up bullshit for 4 hours … although it would be nice, the algo doesn’t

need 100+ PIP ranges to succeed.

Meanwhile over in crypto land, if this was a race horse they’d put it down

… seriously abysmal trading action across the board … alt-coins not moving at

all with volumes & liquidity disappearing faster than Biden’s brain [if he had one,

the guy is a “sock puppet”] … it’s just one of those time periods where everything

dries up, and the only thing to do is wait it out.

ECB tomorrow of course, so I’m expecting things to be rather muted to the

7:45 AM EST decision, followed at 8:30 AM EST with an ECB presser … let’s see

what happens.   

… outta here … “The future’s so bright I need sunglasses”!! 😎😎

… Onward & Upward!!

-vegas