“Every parabolic market move ends the same way … this will be NO different!”
Line ‘em up and look at the end … crude oil, gold, “Stock Bellies”, lumber, it
makes no difference … at the end of the road is a “train wreck” … and the way
EURJPY is headed, and for that matter all Yen crosses, the end is gonna be nothin’
short of a disaster … granted it may take a while, maybe many weeks / months,
cuz the market has to suck in every last Chucklehead, Mrs. Watanabe & Gal Pals
bit of local currency, and every trend following position player on the planet before
it finishes, but finish it will … I hate to see this cuz it never ends well … NEVER.
At around 7:30 -ish AM EST, we had our first little earthquake in the cross, as
reports hit the wires that the BOJ was intently watching USDJPY … the BOJ only
cares if shit gets outta hand, and their importers and exporters can’t get orders
filled properly [meaning to their advantage], and for decades they’ve been trying
to get the Yen lower [USDJPY higher] with no success … but they don’t like
“disorderly” one-way markets, and this little “no warning” warning is a message to
Yen players to be careful, cuz if they take things too far the BOJ is gonna intervene
and knock you on your ass … not to change the trend, but to insure you lose
money betting against the Yen … central bankers hate & detest specs making
money off their idiotic policies.
Like so many times before, “Asia flies, the rest of the world dies” … the 20 Day
Range MA in EURJPY already hit before Europe opens … the day is almost over
before it begins, and you can thank rising U.S. treasury yields … however, after
seeing more position players getting long, the BOJ issues a warning … smart
money sits up and takes notice … that doesn’t mean EURJPY goes dramatically
lower, but I can see multiple days of consolidation in the low 130’s, as the Yen
depreciation slows down … and if it doesn’t? … the BOJ will intervene and kick
some asses, and nobody wants to see that.
Too many buy signals today that came too late off of “V” bottoms that never
retraced or tested the low … the trading algorithm is not designed to capture
panic or mini panic lows on high VIX … but when it comes, it comes in bunches
that make you think it happens all the time … trust me, it doesn’t.
Only one EURJPY algo buy signal today for the TURNKEY PAMM
… UP FRACTIONALLY … got a terrible entry fill, and that skewed the trade, but
chop up near the high of the day and a range for the day over 180+ PIPS, means
we need to see a more substantial corrective activity in the trade in order to take
a buy signal … and then comes the London Fix and the day is basically over
without a move down to below 133 … only after the fix when the scumbag Wall
Street banks are in charge, do we some stop runs to the downside, but I don’t like
trading anything in New York afternoons unless I have to … and that doesn’t last
long … onto tomorrow … meanwhile over in crypto, some increased trade activity
in BTC, but these one day wonders of volatility followed by “sleepytime” are
bullshit … we’ll see if this kind of trade activity can continue tomorrow … if so,
I’ll trade it.
… outta here … “The future’s so bright I need sunglasses”!! 😎😎
… Onward & Upward!!
-vegas
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