“BLUE HORSESHOE” LOVES NVIDIA

 

“Ahhhh, the simple things in life!!”

A lot of “degenerate teen traders” are gonna get a quick lesson in options

volatility this morning, when the NYSE opens … more than many LONG the far

out OTM [out-of-the-money] CALLS in NVIDIA, that had a 20% options “skew”

built into the price of the calls … TRANSLATION: “you would need the “Stonk”

to go up $150 - $200 for your OTM CALL options not to be lower at the open!

… and right now, it’s about $70 higher in pre-market trading … with earnings

out of the way, VIX immediately falls back to earth … “pick the color of your new

Porsche some other day!”

WTF has gotten into the Asian session and early European trading hours, that

lately sees ETH go “bonkers”? … another night of $100+ trading action, that

then sees New York not do shit … maybe today will be different, who knows?

… it might have a lot to do with China’s crackdown on people leaving the

country to escape the ChiComs, and taking their wealth with them in the form

of crypto, with ETH being the hottest pair around right now … seen this before

… wait ‘til it starts happening in the Banana Republic, and that trickle outflow

becomes a fucking tsunami! … forget gold, it can’t get you from point “A” to

point “B” cuz it’s too bulky and would be easily confiscated … crypto is the

only answer … fuck the ChiComs & the Banana Republic! … live life on your

terms! [see pic above in the header]

Remember one thing that’s very important about markets and trading … “TOPS

ARE PROCESSES, BOTTOMS ARE EVENTS!” … i.e., be careful about shorting

in bull markets and use downward breakouts of congestion zones [m5 / m15 but no

higher] in bear markets … bottoms are usually formed by cleaning out the last

remaining holdover longs via sell stops, followed by wicked short covering

rallies … tops suck in every last FOMO spec alive and get them to HODL over

days and/or weeks, before breaking straight down and wiping out sell stops in

obvious areas even your pet monkey knows there are retail sell stops sitting

there … amazing isn’t it?, that scumbag banks, HFTs, hedge funds can read

charts just like you! … who would have guessed!?

I’ve revamped the “”vegas mq4 support / resistance zones” [RM=1 THROUGH

RM=4 for higher volatility in ETHUSD] … USE THIS MQ4 ON YOUR CHARTS [M1,

M5, OR M15] WHEN NYSE HOURS VIX CELL VALUES ARE ABOVE $50 [A & M]

FOR THE WEEK [published every Sunday on the blog update] … m1 uses RM=1

& RM=2, THE M5 USES RM=3, AND THE M15 USES RM=4 … M1 FOR SCALPING,

M5 & M15M FOR DAY TRADERS! … THE HIGHER VIX ETH MQ4 FILE IS

AVAILABLE FOR DOWNLOAD OVER IN “DOWNLOAD LINKS”.

Absolutely nothing is better at pinpointing turning points in crypto, especially

ETH when it’s moving … fr getting long, simply go with a breakout above m5 or

m15 from previous period with a tight stop … use the mq4 to liquidate when it

hits the other side, or use another indicator you like … I like things simple

… directly below, from today, the m15 in ETH with RM=4 [highest VIX] … go

ahead, find anything better in pinpointing reversal turns off of support &

resistance in price!

click on chart to enlarge

Personally, I prefer to see and use the m1 in conjunction with the m15 at the

edges on reversals … day trade it or scalp it, it’s your choice! … I’ll have more

on the Sunday blog update, so tune in then for more info.

For those who prefer to trade BTCUSD, the mq4 values for BTC don’t need to be

adjusted … use RM=3 & RM=4 for the m5 and/or m15 candlesticks for day

trading … same basic rules as for ETH. The BTC mq4 file can be downloaded

over in “Download Links” and installed into the MT4 you’re using. 

We’re a couple of hours from the Friday close, and it’s another disappointing

NYSE effort from ETH … range sucks today, around $35 … should be twice that,

but volume and movement the entire week got siphoned away by Asia & early

Europe … despite euphoria from the “Spoos” & NVIDIA, crypto crawls again

today … only a couple of PAMM trades today, and while entry fills were OK,

liquidation fills sucked … too much slippage for my tastes, but it is what it is

… WE’RE UP SLIGHTLY … and no, I’m not renaming the PAMM the “UP

SLIGHTLY FUND”, as volumes will grow going forward and yields should be

higher … plenty to cover in the Sunday blog update, so cya then!

… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,

and my own Brinks armored truck” 💓!! … Onward & Upward!!

-vegas