File this under rules to live & trade by … 1) governments everywhere hate specs
and will do anything / everything to see to it you lose money, and 2) volatility in
all of its manifestations in life and in trading, is the only thing to keep your eyes
fixated on … everything else is bullshit, and usually the first goes hand-in-hand with
the second … and when governments go on the warpath against specs [long or
short], the first thing they kill is volatility [VIX], cuz they know specs don’t really
understand it.
With the BOJ Apparatchiks threatening intervention, and the FED meeting on
interest rates next Wednesday, the trade is starting to feel like it’s pulling back
from any action, and we’re likely to get a heavy dose of bullshit the next 4 days
… today’s trading action pathetic in USDJPY, where even Asia doesn’t give a
shit … “Trading Ratio” [TR] is fine, easily over 3, but it’s a case of what I wrote
about yesterday … namely, highly inconsistent VIX, where one minute it’s good,
and the next minute it’s horrible … a micro version of “speed of light … crickets”,
where it can’t move 5 PIPS to save its life in 10+ minutes, but can move 10+ PIPS
in under 5 seconds when the banks go front running an institutional order … and
it’s this kind of trading action inside a yo-yo “Flying Wedge of Death” [FWD] that
we see today … importantly, it’s this lack of trading action that invites
“false positives” into the mix … and unlike “normal” days for YEN lately, where
you can easily recover from a “false positive” or two, that isn’t the case when
shit goes “sleepytime” … cuz now, with more “false positives” showing up, if
you have a string of wrong trades, how do you recover from that when nothing is
moving? … well, that answer is easy: YOU DON’T!, and it could easily get worse
… looking at today, just going up to the m5, you can see the intermediate HULL
EMA is flat for the last 7+ hours! … this market ain’t going anywhere!
Of course, the Mrs. blames me cuz I’ve been hanging around the first part of the
Asian session before going sleepytime … true to form, I watch it, it dies .. I go to
sleep, and it moves … meh … now after the London Fix, and for the last 8+ hours,
we got an approximate 40 PIP range in USDJPY … sorry, that ain’t gonna cut it,
cuz there will not be any corrective action inside a bigger move that extends the
pathetic range we see today … in other words, what a bag of crap.
And looking at the other assorted casino games on the MT4, YEN looks like the
best horse in the glue factory … EURUSD, GBPUSD, and the “Stock Bellies”
showing worse conditions & ranges, so no bargain in any of these … so it’s not
like just switch to something else, cuz the “else” is worse! … you just live with it,
deal with it, and move on … laugh, cry, whatever gets you through to the next
day, and hopefully conditions are better … not like we can do anything about it.
Time to wrap things up for the day, and from the tips, USDJPY yo-yos to an
approximate 40-ish PIP range for 10+ hours … that’s from the tips … more like
25 - 30 PIPS most of the day, going up/down in spikes on “scumbaggery &
fuckery” from the usual suspects front running orders … we don’t have access to
order flow info, and never will, so I don’t ever expect to be able to use that info in
trading … it’s bank proprietary and guarded like Fort Knox … as I’ve said
previously, we need RANGE, not necessarily just good to excellent TR’s … and so
bottom line is simply this … when the manipulators go to destroy specs, they do
it by strangling VIX, and by that very action most specs go nuts looking for
extended ranges and then not getting them … and when they don’t get them,
they panic the other way and thus the spikes from Hell show up rather
conveniently for the scumbag banks.
No trades today in the PAMM, simply cuz we need better conditions than the shit
served up today … onto tomorrow … and btw, I got a tropical storm / hurricane
headed my way come Saturday … right now it’s Tropical Storm Fiona … oh fun,
oh joy, it’ll be a wet weekend!
… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,
and my own Brinks armored truck” 💓!! … Onward & Upward!!
-vegas
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