Markets Stalin Would Love
Somewhere, the old Patriarchs of the Soviet Union are cheering. The market manipulation going on in all the financial markets is staggering. Not just gold and silver, but equity indices, specific currency pairs, etc.
A $16 daily range that felt like it was twice that. Of course when you put in the FWD [Flying Wedge of Death] it’s gonna feel like the range was bigger. Once again, in the early hours of the trading day, we came very close to getting an algorithm buy signal in gold [missed by about a $1] at the low. We did eventually get long and sold only a few cents off the high of the day for our profit.
EURJPY had a crazy day, no doubt due to ECB manipulation via French repatriation issues, as it went to the extremes several times. Seems there need for dollar liquidity is almost at panic levels. AUD by comparison was rather calm in this mess.
As I stated on my other post, manipulation is a big part of the market these days; it’s the new paradigm. The biggest reason for the revised algorithm is because of this phenomenon.
As always, staying out of trouble is a big part of the process, and when we can’t get the prices I want, we do lower volume to reduce risk.
Have a good day everyone.
-vegas
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