THE DUKES THOUGHT THEY KNEW SOMETHING

 

“Swing and a big fat miss!!”

The scumbags on Wall Street today front running the ETFs in BTC, and by

extension trading in ETH, right before cash trading starts … Whoops!,

somebody played ‘em! … a big fat price spike right into the NYSE open, and

at the opening bell it’s “Thelma & Louise” right from the get go … seems

those buy orders weren’t there to screw were they? … my my, look at all the

glum faces on the JPM trader desks!

Directly below, are 2 screenshots of the m15 on the left and the m1 on the right

of ETHUSD … the first is from before the NYSE open and the m15 has a white up

slope … the second is from the NYSE open at 16:30 server time, and stays hot

pink [down slope] … for a long position, we want the white to match with both

the m1 & m15, and in addition, we want the simple MACD histogram on the m1

[fast 8 period, slow 15 period, SMA not needed] to be at or ABOVE the yellow 0

level … changes in color precipitate trades and liquidations … and if you want

to trade from the short side, it’s just the opposite … I would advise against this,

as we’re in an environment of rising price … FED interest hike cycles could

potentially shift trading to the short side … but hey, I’m not your MOM, so if

you want to short the beast go ahead … ditto with BTC as well.

click on any chart to enlarge

The news flow today not good for crypto, as BTC is in the spotlight with the

SEC hounding Coinbase over staking securitization bullshit … it’s always

something with these assholes in their quest to destroy crypto in the Banana

Republic, as the rest of the world goes forward with more and more adoption

and innovation … why would anybody in their right mind start a business in

the U.S.?

Into the mid to late New York afternoon, and our first color change for longs on

the m15 came at 1 PM EST … more of a case of time into the close than anything

price is doing, cuz it ain’t doin’ anything but chop … 2nd day in a row of lousy

trade action on the long side, but you take the good with the bad, and more

importantly you don’t get “whacked” … no trades for the PAMM today in ETH, as

there just weren’t any good opportunities for profit … very aggressive traders

can use the RM levels off of the m15 for a scalp, but you need confirmation of

some kind of move higher … your losing trades will definitely be higher, and

you’ll need the “dead cat bounces” that extend slightly to make up for them

… that’s  a very tall order and needs near perfection on both entry and

liquidation to be consistently successful … onto tomorrow!

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

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

-vegas

THE POWER OF THE M15 IN SCALPING & DAY TRADING

 

“Using FOMO & MOMO to your advantage!!”

The line between scalping & day trading is a murky one … ask 10 people and

you’ll get 23 answers … regardless, you need both FOMO & MOMO on your side

to get the best profitable results consistently … and there’s the rub, finding an

adequate indicator that’s consistent enough in a volatile market to deliver profits

… use highs and lows of the m15 to guide you, while keeping an eye on the ZLMA,

period 15 … white is upsloping, hot pink down sloping … for long scalps off the

m1, unless price is hitting an RM=2 OR RM=3, MAKE SURE YOUR ZMLA IS

WHITE … if it’s not and it’s hot pink, scalps and/or day trades can be treacherous

and dangerous, even though the m1 says buy … the resumption of the trend

lower usually is very fast when the short covering runs its course, and the very

last thing you want is liquidating a long position in crypto on a down red spike

… hold your breath cuz you ain’t gonna like this fill one bit.

On the m15, when the ZLMA, PERIOD 15 is white, the lows from previous m15’s

will hold and the market will continue to press higher with new highs … when

the m15 ZLMA, PERIOD 15 is hot pink, highs from previous m15’s don’t get taken

out and the market moves lower … when these colors change, market MOMO &

FOMO will change with it, sometimes for a big trend change, sometimes only

briefly … you have to watch these carefully, and use your mental stops when

colors change, either on the m15 or the m1.

DIRECTLY BELOW, THE M15 TODAY IN ETHUSD AT COINEXX LIVE SERVER.

click on chart to enlarge

You also have to know the market’s current volatility state in a general sense

… currently I have RM=2 [orange line] and RM=3 [red line] for the m15 … if things

get bat shit crazy I’ll move them to RM=3 & RM=4 [highest], and if things slow

down markedly, I’ll move them back to RM=1 & RM=2 … ditto on the m1 as well.

In this way, I stay current with support / resistance based on volatilities and not

simply on price … and again today, the BTC ETFs right out of the NYSE open

head to the downside, telling me there is some ETF liquidation and a downward

mood to start the trading day in New York … and ETH follows suit in some kind of

correlation pattern … tomorrow I’ll cover how the m1 works in tandem with the

m15 to keep you out of trouble and give you the best trades … realize however,

these models are for volatile markets like BTC, ETH, and gold when it moves

… get a market that isn’t doing much of anything except chopping around, and

algorithm parameters will chop as well … stay away from slow moving markets!

Not a very good trading action day for ETH … once the BTC ETFs set the mood

and the first downdraft lower after about 30 - 45 minutes, ETH spent the entirety

of the day chopping around a smallish range with very limited m15 white ZLMA

slope … that offered very little comfort to any FOMO / MOMO price action

upward … still, had one PAMM trade during the rollover on the m15 from hot

pink to white, and WE’RE UP SLIGHTLY … onto tomorrow.

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

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

-vegas

WHY HAVE A STRATEGY? … JUST FOLLOW THE FOMO!

 

“It works until it doesn’t!!”

It’s not like I didn’t see this coming, the BTC ETFs now running the crypto show

… and it’s only gonna get worse as time goes on … the criminal, money

laundering NYSE open has a new game player, and riding on their coattails

comes ETH until one fine day they get their own ETFs.

I’m stuck in doctors office Hell today, breaking out only after 2 PM … last time I

do this shit I can assure you … I’m fine, I’ll call if I need you! … back to full time

trading tomorrow.

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

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

-vegas

SUNDAY UPDATE: WHAT’S HOLDING GOLD DOWN?

 

“The GOAT of money!!”

You wouldn’t know it from the price, hanging up here around $2200 per OZ., but

ranges for trading are remarkably pitiful … WHY? … from the stats, the median

of COMEX trading is below $19 … given a CFD spread of around 40 cents, not

even considering slippage, that’s over 2% cost to trade this shit … no wonder

people are shy to trade it! … compare that to ETH, where this metric is in the

tenths of a percent! … get rid of the gold cartel of LBMA / COMEX / FED / BIS,

and gold would trade like crypto … hopefully sooner rather than later.

Directly below, this week’s 20 Day Range & Median values.

click on table to enlarge

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

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

-vegas

THIEVING SCUMBAGS

 

“Here’s your fill sucker!!”

I should have known better … nothing ever changes with these LP whores,

Coinexx perhaps representing some of the worst out there, and it’s not like it’s

a big secret slippage is a problem here … FX, oil, and “Stock Bellies” being the

worst of the litter … slippage today in DOW30 simply laughable it’s so bad

… can’t trade this shit, no how no way.

The only markets Coinexx has going for it are in crypto … BTC, ETH, and

perhaps LTC … BTC prices itself out of the picture when it starts to move and

can become a real problem for decent price fills … if the spread can stay

reasonable I’ll trade it, but I’m not interested in paying a $50 - $100+ spread rate

… ETH is now in the SEC crosshairs, and it’s an open question as to whether or

not they’re serious about this “security versus currency” question they

hounded Ripple with [and lost], or whether they’re just being “Dicks” in an

election year … we’ll surely find out in the months ahead … but for now, it’s

premature to think ETH is gonna suffer from this … maybe they do, maybe they

don’t … it was a mistake for me to jump ship and go over to “Stock Bellies”

today … quite frankly, the only markets we don’t get hosed in are crypto, where

for the most part our fills have been good … if need be, I can always move over

to either BTC or LTC and trade those … so we’ll see what happens in the weeks

and months ahead with ETH, and for now I’ll be sticking with it for the PAMM

… and for those wondering, gold now has a spread of between 35 - 40 cents

per OZ. … gone are the days of 10 - 15 cents, but the ranges aren’t that much

higher to justify a higher spread like this … it’s bullshit, so gold is a “no go”

for trading.

A couple of DOW30 trades today, and needless to say ALL FILLS just absolute

horseshit, off the market by many index points, and if there’s a bigger scam

than this I haven’t seen it … PAMM DOWN 0.1% … back to crypto on Monday

… blog update on Sunday … cya then.

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

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

-vegas

THERE’S BIG TROUBLE BREWING IN CRYPTO CITY

 

“Supposedly, ETH in the government's crosshairs!!”

Here we go again with the argument, is it a security or a currency? … and the

leak looks like the SEC wants to litigate again the topic with ETH … and

suddenly a chill hits ETH price movement … this is not good for ETH traders.

Starting tomorrow, I’ll be moving PAMM trading over to either the “Spoos” or

the DOW30  … haven’t decided which yet.

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

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

-vegas

ANOTHER LOUNGE LIZARD DAY

 

“What they do when not playing with interest rates!!”

Another feckless FED interest rate day … and while not directly affecting

crypto, lately it’s been anything but smooth sailing … onto tomorrow while I

sit this one out.

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

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

-vegas