Here we are. This post will a little different. I had determined to start with a new "mental slate" this morning. I erased the board, and now I find that I have no "chalk". That's an old school analogy that may escape the youngers here...
Seriously, I'm drinking my coffee and checking out the news and related things as I always do after a good night's rest to get a grid for the day, something begins to dawn on me. Then I realize my coffee is getting cold and that doesn't bother me. You should know that always bothers me. Alot. I came in all fired up to clear old expectations off the charts, old fibs etc, and start new. Now my coffee is cold and the charts are no longer important.
I'm finding myself in a curious place. Imagine packing for a trip, loading everybody and everything into the truck, topping off the tank, and then when you get ready to pull out onto the road... you realize you have no idea where you're going....
I realize some of us olders here may actually have had that experience for real, and if so, then you understand that moment of disorientation. That's when my wife, or one of my grown kids if they're a'rd remind me what we were doing, and then we're off.
This is a little like that, but there's no one here to tell me where we're headed. Not really. I asked my wife and she just looked at me funny, so no help there. Kids are all gone. So which way? Right, left, or straight ahead?
We've actually gone on 1000 mile road trips before without any destination in mind other than to "just go"... anywhere. Didn't matter. Those were fun , and since "anywhere" was the destination, we never got lost but were always arriving at the place we were headed.
This morning, this all feels a little like that. It's not fun this time however, but disturbing, becuz I'm really talking about the way the world used to work, just as recently as last week.
The world is working differently this week. It's beating to a different beat, and no one has told us the name of the new tune yet... Not me anyway, you guys may have got the memo, but i didn't. Notice I said memo and not email. I'm using old world words like chalk and memo, which are all obsolete to make a subtle point. We are surrounded by the trappings of an obsolete world today and the nickel hasn't dropped yet. How long till nickels are obsolete as well I wonder...
Here's the thing. Trillions injected into the global markets, and more waiting in the wings if we are to believe the rhetoric. Trillions. I mean why did we all use to worry about that nasty "I" word (Intervention) if the MOTHER OF ALL INTERVENTIONS just happened, and who even knows that? I can't hardly find it on any of my charts.... Sure a few dozen pips here and there, maybe M4 got hit instead of just R1, maybe we caught an extra fib line we weren't expecting, but ought not TRILLIONS cause the needle to quiver a little bit more? Trillions into the mix. But not by banks. You do remember banks, don't you?
So. I'm going away for alot of the rest of this week and won't be posting much, maybe not at all. (Some of you are like) I need to see if anybody knows where we're going, or what the name of this new tune is before I post anything else about what I think about this or that. For the desperate ones out there that must have a soundbyte, here's my best guess at this point... consolidation at or a'rd current levels in a maybe 200 pip range for awhile. Look at the chart. It'll be the last one for awhile.
Ellipses show the hesistation to go higher or lower just now. Lots of flat doji's showing lots of indecision. There it is. Anybody reading this thread could have done the same or better. Took me all of 15 seconds to come up with that, becuz that's all I see right now. Hundreds of points up and down on global markets, double digit % numbers being lost and regained in the markets on a daily basis, and don't forget them TRILLIONS... And we get a few dozen pips, an M4 hit, and lots of doji's at the end of the day....
Besides all that, there have been some very positive and glowing references to the value of my posts here lately, not to mention a couple very kind and gracious PM's. Not to ridicule or diminish any of that, and I am cheered to think that someone has found benefit in all that somehow. Sincerely, I really mean this...Thank you.
All that does is raise expectations tho, which always lead to great disappointment, so I really need to do something about that anyway (this post may accomplish that all by itself). This is a good time to take what Crocodile Dundee called a walkabout. What some of my First Nations friends call a vision quest.
Lot's of fancy names when all I'm really doing is going off to see if I can find some chalk...
For my mind, it is as though we have slowed down in the speed of the volatility but it's like a slow up and down ranging volatitlity where by if you hang to a losing position for too long, you'll get punished badly.
Either way, I'm thinking of going back to demo trading for the rest of this week and then starting the next week fresh with my Live account.
and with that drag the eur/usd up with it!
