Spicoli delivers the hawkish news … then a gaggle of the Lounge Lizards deliver
some good news on rates … typical “good cop / bad cop” bullshit to give the
banks the needed ammo to screw specs everywhere … so what caused
yesterday’s take off higher in EURUSD? … FED Pie Hole Bostic walking back a
50 bp rate hike in March, saying maybe that’s a bit hasty … and here comes the
shorts panicking in 3 … 2 … 1 … Why didn’t he utter these words last week?
… cuz there was still selling last week in “Stock Bellies” … but now that the banks
have gotten long, here comes the FED right on cue … corruption, thy name is FED!
You have got to be messing with me Mr. Market … 8+ hours and EURUSD has got
a 20 PIP range? … then with a few minutes to the “London Fix”, here comes the
sell stop hunt by the usual suspects … that accomplished, right back straight up
the wall … all with 10 YR. rates climbing today … and as I’ve said before, one day
it’s got a 100+ PIP range, and the next it’s pure bullshit, this time with 20 … are you
F-ing me or what? … and there ain’t nothin’ the trading algo can do with horseshit
like this, I’m just tellin’ ya … and this comes after the Asian session had some
decent trading! … not great, but decent … then this shit, with the usual
“scumbaggery & fuckery” by scumbag LP banks, right around the minutes before
and after the London Fix, to put the cherry on top of the cupcake … you just can’t
make this shit up and have anybody believe you! … meanwhile, price hovers
around the 200 HR MA, spending the entire European day into the New York
afternoon going a hair above / below this support / resistance level, locked into a
“Flying Wedge of Death” [FWD] that sees near the top / near the bottom multiple
times, but can’t “seal the deal” and expand the range … “nice, WTF is next,
locusts”?
And now with Europe closing, it leaves a tight FWD in the hands of the virus
scum of Wall Street banks … gee, what can possibly go wrong here? … tomorrow
and into Thursday morning, most likely we’ll see position squaring ahead of the
ECB interest rate decision & meeting … I don’t see any change in rates, but we
could see some guidance towards a slightly higher rate in Q2 or Q3 … dunno if
that’s gonna give EURUSD a lift, or whether it’s “buy the rumor sell the fact”
kind of thing.
Quite frankly, IMHO this rally in EURUSD yesterday and into the early AM today
is premature … sure, they banged out some positional shorts thanks to a FED
PIE HOLE, but nothing has really changed from a few days ago when EUR was
in the 11 handle … in any event, here we are with another day of “Asia flies, the
rest of the world dies”, Europe can’t do shit to save its sorry ass life, and now
we’re headed into the New York afternoon with nothing but “scumbaggery &
fuckery” expected from the usual suspects … of course they’ll run stops,
probably in both directions, simply cuz they can … for FX, specifically EURUSD,
this isn’t exactly a recipe for success, but an invitation to a disaster … it is what
it is folks, I can’t make it move, and as I’ve said before, you take the good with
the bad when it comes to FX … just cuz yesterday was “good” doesn’t mean shit
for today or tomorrow, and while it can be frustrating you simply can’t care or
it’ll drive you nuts … quite frankly, and I don’t care what time zone it’s in or part
of the world trading it, when you only get a 20 PIP range for 8+ hours of trading
activity, there isn’t a “Hoover Dam” thing anybody can do to make money, simply
cuz the scumbag bank LP’s have this kind of game rigged to the hilt … spread +
slippage + commission, and there’s no way you beat the bank to the punch on
an electronic system where they operate in nanoseconds, and we operate in
milliseconds … in very tight ranges, they just “meat grind” people to death one
paper cut at a time … from what I saw today, it’s hard to envision a worse market
environment for actual trading … maybe it’s cuz of the impending ECB meeting, I
dunno, but this ranks right up there with day’s you could have spent better
watching “Brady Bunch” reruns! … yea, that bad.
Over in crypto, it isn’t getting better, but simply getting worse … ADA has died on
the vine, and I’m exploring other alt-coins to trade … as soon as I find one I’m
comfortable with [and there are dozens to choose from] I’ll be back trading for
“The Syndicate” … this reminds me of last June & July when everything crypto
died for 2 months after the May BTC debacle … this too shall pass.
No trading in anything today … what a shit day [outside of the Asian session]
… fluff it off and move onto tomorrow.
… outta here … “The future’s so bright I need sunglasses”!! 😎😎
… Onward & Upward!!
-vegas
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