MrRenev

Horrendous market conditions. Can only get better?

MrRenev Updated   
FX:EURUSD   Euro / U.S. Dollar
I do not really know stocks, there might be opportunities there, but aren't they all correlated anyway?
All the rest thought, nearly everything is crazy lame. What is this? Why? Too large influx of retail traders 50/50 coinflip prevents markets from trending?
There are not even good ranges to trade. What if all these awful retail market participants are making markets random and much less volatile?
Ahhh it's all over, we can't make money because of all the noobs that take random guesses on the direction.

The Eurodollar for example, it's not tightening, it's like tightening but while pointing down. How does anyone make money in these conditions?
Ignorant regulators are joyful "oh the volatility is falling due to trash traders 'buying oversold' great"... markets trend for a reason... So dumb...
The smaller the ATR the happier they are, it's unreal "Great! I had a really bad experience when I gave it a try! If markets don't move other idiots like me won't lose money, awesome!". YES, and when that heartbeat stops you will have a beautiful flat line and won't have to worry about anything anymore ^^.
Markets dying is clearly an awesome thing for the economy, woohoo! Unbelievable stupidity. Just unreal, I must be dreaming.

I don't want to get wealthy by 76 years old.
It's going to have to break eventually right? And then the suicidal thoughts will go away, yes, yes...

Also for new traders, not the best conditions to learn. There's really nothing to get out of this.

I already look at alot of markets... Might have to look at stocks if it does not get better... Assuming they don't get bad too.
You CANNOT make money in a random market (well you can make a bit with interests or dividends then... not great).

First let's look at the good news:
1- We can always participate in this nice Palladium bubble. It's expensive thought (fees), so only good for swing trading, and not just 2 days.
2- The bane of life on earth is trending, for now, we still get opportunities. I have a feeling it will make a lower high (already made a higher low), and just get tighter.
3- Indices are soaring, seems to be slowing down thought, except for CAC 40.
Retail isn't interested in CAC 40. What if this is really the reason everything is dying? Hnnng no please no, gtfo dirty bronzes.

4- There is the Turkish Lira but I don't want to lose everything... Could trade it on a separate broker and be protected by negative balance protection...
It's going up and interest for buy is pretty high... So long term swing trades are not that interesting. Turkey paying huge interest with imaginary money making it bad... Erdogan ruined the country... And can't even short the Lira too much interest rates, or maybe it's still worth it. I really would rather stay away.

Now for the bad news, 185 points. I'll only show a few examples rather than all of them ;)

Virtually all currency pairs are bad and offering very little opportunities...


Silver has not been interesting for so long...
Even soft commodities are not interesting...

Comment:
I was looking at the yen futures, it's just ridiculous how tighter things have gotten:

I still find some opportunities in these conditions but at some point it will get too bad I assume?

When it inevitably explodes, what will happen to spreads? Stay the same?
If the range goes times 10 and spreads are the same it's going to be infinitely more interesting to day trade over and over ;)
Comment:
DAX still going up,
Dow going up but with retrace,
Footsie consolidating,
CAC still soaring up,
EURUSD dropped, but very small %, and still in a range,
USDJPY might have completed wave 5, still strong buyers, looking to buy,
GBPUSD range getting smaller, making lower high, looks like 'complacency' about to end, looking to buy 'denial',
AUDUSD still going up in small zigzag, maybe interesting to blindly buy or sell as it keeps zigzagging, I don't like it,
USDCAD still zigzagging in a range I only trade trends even when I trade (higher TF) consolidation,
USDCHF beautiful one, when from weak uptrend to breaking resistance without pullback and exploding up parabolically, very eager to buy,
USDMXN not sure if that is a bottom, or just lower highs and about to breakdown, waiting on the side,
EURJPY well I posted about that one, been interesting, if we maintain support till monday morning (without it going up either ofc) I'll maybe buy,

Those are the ones I watch on a daily basis. I also got the nasdaq s&p euraud and gbpjpy in here but I don't really look all the time.

I look at more indices and minor pairs on a less frequent basis, the ones that interest me most:
Gold broke down, tried bouncing but is still pointing down, might be going towards my buy zone of ~1225. Spreads too high for me to short it on a daytrade/1-2 days swing trade basis.
Oil consolidation has now lasted 2 weeks. Would buy on a retest of a 59-60$ area if it looks interesting.
Bitcoin still consolidating like the past 2 weeks after that pump that lasted 50 minutes the 2 April (or 1rst if you're in the USA).
Soybean futures gapped up, then went back down, nothing interesting in my eyes,
Copper making slightly higher highs with short lived uptrends then consolidating for months, lol idk what to make of this. Waiting...

Maybe next I'll make a bi-weekly video of this. Simplier.
I also have a couple more commodities and FX pairs but I rarely watch them. Ye I don't want to make an overview of these, I'm just being opportunitic with them.
Checking 20 additional charts all the time to maybe hopefully not miss an opportunity, I don't care, too much work for not much.

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