I wouldn’t listen to any of these 3 POS Assclowns if somebody paid me
… nothing they have ever said or will say is based in anything other than
propaganda for activist hacks … looking at the “lowlights” simply cuz you new
going in there would be some if not plenty of ‘em, the bowl of warm Jello
really “wowed” ‘em didn’t he? … Quick, somebody tell him the difference
between Iran & Ukraine, cuz apparently he doesn’t know! … Bwahahaha!
Gold put on quite the show yesterday, with an almost $50 range to the upside
… today sees something quite different, culminating so far at least at 12:26 server
time [5:26 AM EST], with a sell stop run that cleaned out stops for about a $17 run
to the bottom in seconds that cleaned out yesterday’s long position holders
… “ahh yes, nothing like honest, fair, and above board scumbag bullion dealer
banks is there”? … and within a second or two it’s back up over $10, adding pain
to those who got their sell stop filled at the bottom [which would be everybody!]
… and so just like that, before the sun ever rises in New York for trading, gold has
a double reversal going with a $34 range … what the Hell am I supposed to do with
this, cuz unless something truly historic is gonna happen in gold today, the day
ahead is not gonna be anything but a frenzied “chopfest” of bullshit nightmare
proportions? … of course people should be in jail, but we all know why that won’t
ever happen … now what, a triple reversal? … good question, now that the order
books have been blown to shit, and the locusts eat everything in sight! [raining
frogs come later, the day is still young] … and while the “Plunge Protection
Team” [PPT] furiously attempts to save “Stock Bellies” from going over a cliff,
“Hoover Dam” near every single trading day, equally important is the role of the
“Rally Protection Team” [RPT] to make sure gold is held down or smacked lower
… “it’s the Elites “gift” to the ChiComs & the Ruskies [surprise!] to allow these
2 to add massive gold reserves to their central banks and not have to pay higher
prices”.
And since this little Clusterfark, gold hasn’t moved in the last hour more than a
couple of bucks from the hourly median price … “OK everybody, we’re back to
making an honest & fair market! … really, we’re serious this time! … Hello,
anybody listening?” … sure, sure you are … just another lie in a long line of
succession that goes back decades and will never be dealt with ‘til somebody
of significance is sent to jail … don’t hold your breath.
More curve balls than you’ll see in a MLB game … quite frankly, there isn’t a
market on the board that’s ready for any kind of trading with double reversals,
and stop hunts that resemble nuclear weapon attacks, rather than anything to do
with “protection” from adverse moves … I come in and see this, and all I can do
is shake my head in disbelief, especially when after it’s over they walk gold back
up the hill to where it originally broke from on the stop hunt, and all of you
specs out there who got to sell the low on a stop, you can now buy it again $20
higher, 3 hours later … what a Grade A+ Clusterfark, thank you very much
scumbag bullion banks.
I told you days / weeks ago when all the rage was interest rate dot plot rate hikes,
and every day saw another scumbag Wall Street bank raise the number of rate
hikes, with JPM the winner right before the Russia invasion with a prediction of
9 in 2022, that they would FIND A REASON NOT TO DO IT! … well now, can you
say “get walked back” fast enough? … right now, the smart money is on “3”, with
even the March “slam dunk” it’s gonna be 50 bps from the smartest people in the
room, to now maybe NADA … I told you, interest rates can’t be allowed to go
significantly higher cuz of the national debt that is sky high … maybe a rate hike
for propaganda reasons, but surely not anything that’s gonna dent inflation
… and speaking of inflation, how do you like $115 crude oil? … wait a week, and
check gas prices then, when they’ll be another 20 - 30 cents higher than now
… but hey, no worries, “Taliban Joe” & Kammy assure us everything is F-ing
Awesome! … I mean, the Iranians will NEVER GIVE IN! … and if you somehow
voted for this demented, corrupt criminal, you should feel shame.
Now at the London Fix [close of European trading], and since 5 AM EST gold
has simply shit all over itself after the stop hunt from Hell … a worthless market
trapped inside a very small “Flying Wedge of Death” [FWD] with plenty of M1
spikes from Hell that went nowhere, other than to set off spec buy and/or sell
signals that the bullion banks then faded quicker than a dyed cheap suit in
sunshine … what a bucket of shit, especially disappointing after yesterday’s
stellar range … a step back for a second, you’ll remember I said yesterday that
with the new MT4 markets algorithm, since the VIX problem has been eliminated,
that the entirety of markets on the MT4 now become available to the PAMM,
where the main criteria for trading them will be 1) bid/offer spread, 2) relatively
high 20 Day Range MA versus other pairs no matter the market grouping, and
3) minimal slippage.
Gold for its part gets “A” marks on #1 & #2, but lags [as you can see today with
that idiotic sell stop hunt] with slippage … what we need is a pair or number of
pairs that have NO CORRELATION TO THE GOLD PRICE, and yet fulfills the
criteria above … say hello and “welcome back” to GBPJPY! … current 20 Day
Range MA = approximately 128 PIPS, which is more than adequate, and the
spread today coming in around 0.5 - 1.0 PIPS, which is good, not excellent, but
again not a deal killer … and with the VIX problem out of the way [IT’S NOW
DYNAMIC NOT STATIC!], which gave me fits before when I attempted to trade
GBPJPY, cuz the signals leaked too much buy fuel and lagged the M1’s on a move
up … that left me to either buy late or do nothing, and quite frankly that’s a
bullshit scenario … well, now that isn’t a problem in the vast majority of cases,
cuz our signals are much closer to bottoms without a corresponding increase in
“false positives” … yes, a major victory! … but the key is this pair has nothing to
do with gold and how it trades … you simply can’t say, “well gold is slow today,
no point in looking at GBPJPY cuz it’ll be slow as well … nope, that pig ain’t
gonna fly [vice versa as well] … quite frankly, I didn’t see today as a bullshit day
when trading ended yesterday, so even though I knew we needed a complement
pair that was non correlated, the need for it came sooner than I expected.
Cuz here’s the dirty little secret about gold … downside action is completely
skewed higher than upside rallies, especially when the short term trend is
heading lower … here is where you have to walk away from buying dips, unless
you like shit like what happened this morning at 5:26 AM EST, cuz by the time
you see the dreaded large red M1 spike it’s too “Hoover Dam” late … and what
if, like today after 5 AM, it’s about 99% short term trend lower? … gonna pull the
trigger on that Russian Roulette revolver to the long side? … yea, well not me!
… and it’s why it begs for complementary pairs that can be traded in a snap of
the fingers and trading can commence there … well one of those pairs is
GBPJPY, and another is EURJPY, and after that the list shortens quickly cuz the
spreads rise, or the ranges aren’t consistently high enough [e.g., AUDJPY and/or
EURGBP].
Not like I had a choice in the matter today via gold, unless I made a conscious
decision to violate algorithm rules … the day over before it began … no trades
today for the Turnkey PAMM … if gold acts badly, I simply switch to GBPJPY
and go from there … this isn’t exactly how I wanted to start the new algo trading
by going 0 for 3 days, but you simply roll with the punches and move forward
… it’s a long month, and we’ll be fine … given the war time scenario in FX at the
moment, there’s no lack of buy signals in GBPJPY, so tomorrow will see the
PAMM trade.
Meanwhile, over in crypto land, BTC is wild while everything else wilts on the
vine … simply unreal how fast BTC can run to the upside [or downside] when
pressed by the whales … no trades for “The Syndicate” today, as every single
buy signal got ran through quicker than a chainsaw through a soft butter stick
… if I had clicked the buy button, I shudder to think where the fill would have
been … I’m thinkin’ $100 - $300 off where I wanted it to be, and that’s
unacceptable … no problem, just move onto tomorrow.
… outta here … “The future’s so bright I need sunglasses”!! 😎😎
… Onward & Upward!!
-vegas
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