Wednesday, July 5, 2023

Usury | Ezra Pound

The first thing for a man to think of when proposing an economic system is: WHAT IS IT FOR? And the answer is: to make sure that the whole people shall be able to eat (in a healthy manner), to be housed (decently) and be clothed (in a way adequate to the climate). 
 
 
 
Another form of that statement is Mussolini’s:

DISCIPLINE THE ECONOMIC FORCES AND EQUATE THEM TO THE NEEDS OF THE NATION.

The Left claim that private ownership has destroyed this true purpose of an economic system. Let us see how OWNERSHIP was defined, at the beginning of a capitalist era during the French Revolution.

OWNERSHIP is the right which every citizen has to enjoy and dispose of the portion of goods guaranteed him by the law. The right of ownership is limited, as are all other rights by the obligation to respect the rights of others. It cannot be prejudicial to the safety, nor to the liberty nor to the existence, nor to the ownership of other men like ourselves. Every possession, every traffic, which violates this principle is illicit and immoral.

Robespierre.
 
The perspective of the damned XIXth century shows little else than the violation of these principles by demoliberal usuriocracy. The doctrine of Capital, in short, has shown itself as little else than the idea that unprincipled thieves and antisocial groups should be allowed to gnaw into the rights of ownership. This tendency ‘to gnaw into’ has been recognised and stigmatised from the time of the laws of Moses and he called it neschek. And nothing differs more from this gnawing or corrosive than the right to share out the fruits of a common co-operative labour.
 
Indeed USURY has become the dominant force in the modern world.
 
Moreover, imperialism is an immense accumulation of money capital in a few countries, which, as we have seen, amounts to 4 or 5 thousand million pounds sterling in securities. Hence the extraordinary growth of a class, or rather a Stratum, of rentiers, i.e, persons who live by “clipping coupons” who take absolutely no part in any enterprise, and whose profession is idleness. The exportation of capital, one of the most essential economic bases of imperialism, still further isolates this rentier stratum from production, and sets the seal of parasitism on the whole country living on the exploitation of the labour of several overseas countries and colonies.

V. I. Lenin, quoting Hobson in ‘Imperialism, the highest stage of Capitalism’.

Very well! That is from Lenin. But you could quote the same substance from Hitler, who is a Nazi (note the paragraph from ‘Mein Kampf’ magnificently isolated by Wyndham Lewis in his ‘Hitler’) – ‘The struggle against international finance and loan capital has become the most important point in the National Socialist programme; the struggle of the German nation for its independence and freedom.’

You could quote it from Mussolini, a Fascist, or from C. H. Douglas, who calls himself a democrat and his followers the only true democrats. You could quote it from McNair Wilson who is a Christian Monarchy man. You could quote it from a dozen camps which have no suspicion they are quoting Lenin. The only people who do not seem to have read and digested this essay of his are the British Labour Party and various groups of professing communists throughout the Occident.

Milton Friedman — Lie for hire.
Thomas Piketty — Worse than Jewspapers.

Some facts are now known above parties, some perceptions are the common heritage of all men of good will, and only the Jewspapers and worse than Jewspapers try now to obscure them. Among the worse than Jewspapers we must list the hired professors who misteach new generations of young, who lie for hire and who continue to lie from sheer sloth and inertia and from dog-like contempt for the wellbeing of all mankind. At this point, and to prevent the dragging of red herrings, I wish to distinguish between prejudice against the Jew as such and the suggestion that the Jew should face his own problem.

DOES he in his individual case wish to observe the law of Moses? 
Does he propose to continue to rob other men by usury mechanism while wishing to be considered a ‘neighbour’?

 
Fed Governors — Prevent the dragging of red herrings.

 
Posted by at
Labels: , , , , , , , , , , , , ,

Monday, July 3, 2023

The BRICS+ Currency | James G. Rickards

A new BRICS+ currency will be announced in Durban, South Africa, at the annual BRICS Leaders’ Summit Conference on August 22–24, 2023 [...] In all likelihood, the new BRICS+ currency would not be available in the form of paper notes for use in everyday transactions. It would be a digital currency on a permissioned ledger maintained by a new BRICS+ financial institution with encrypted message traffic to record payments due or owing by participating parties. (This is not a cryptocurrency because it is not decentralized, not maintained on a blockchain and not open to all parties without approval.)

BRICS stands for Brazil, Russia, India, China and South Africa, representing about 27% of the world's land
surface, 41% of the global population, and 32% of global GDP PPP.
The most important development in the BRICS system concerns the expansion of BRICS membership.
This has led to the informal adoption of the name BRICS+ for the expanded organization.
Currently 10 additional nations formally applied for membership:
Algeria, Argentina, Bahrain, Bangladesh, Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the UAE.
24 countries have expressed interest in joining the BRICS:
Afghanistan, Angola, Belarus, Comoros, Cuba, D.R. Congo, Gabon, Guinea-Bissau, Honduras, Kazakhstan, Mexico,
Nicaragua, Nigeria, Pakistan, Senegal, Sudan, Syria, Thailand, Tunisia, Turkey, Uganda, Uruguay, Venezuela
and Zimbabwe.
By every measure — population, landmass, energy output, GDP, food output and nuclear weapons — BRICS is not
just another multilateral debating society. They are a substantial and credible alternative to Western hegemony.
The BRICS are developing an optical fiber submarine telecommunications system that would connect its members.
It is being developed under the name BRICS Cable. Part of the motivation for BRICS Cable is to foil spying by
the U.S. National Security Agency on message traffic carried through existing cable networks.

[...] It appears likely that the new BRICS+ currency will be linked to a weight of gold. This plays to the strengths of BRICS members Russia and China, who are the two largest gold producers in the world and are ranked sixth and seventh respectively among the 100 nations with gold reserves.
 
[...] Reserve currencies are essentially the savings accounts of sovereign nations that have earned them through trade surpluses. These balances are not held in currency form but in the form of securities. When analysts say the dollar is the leading reserve currency, what they actually mean is that countries hold their reserves in securities denominated in a specific currency. For 60% of global reserves, those holdings are U.S. Treasury securities denominated in dollars. The reserves are not actually in dollars; they’re in securities. As a result, you cannot be a reserve currency without a large, well-developed sovereign bond market. No country in the world comes close to the U.S. Treasury market in terms of size, variety of maturities, liquidity, settlement, derivatives and other necessary features.

[June 29, 2023]
Jail break acceleration:
Ethiopia, one of Africa's fastest-growing economies, is
aiming to become the latest brick in the firewall against U.S.-imperialism.

[...] The BRICS+ currency offers the opportunity to leapfrog the Treasury market and create a deep, liquid bond market that could challenge Treasuries on the world stage almost from thin air. The key is to create a BRICS+ currency bond market in 20 or more countries at once, relying on retail investors in each country to buy the bonds. The BRICS+ bonds would be offered through banks and postal offices and other retail outlets. They would be denominated in BRICS+ currency but investors could purchase them in local currency at market-based exchange rates. Since the currency is gold backed it would offer an attractive store of value compared with inflation- or default-prone local instruments in countries like Brazil or Argentina. The Chinese in particular would find such investments attractive since they are largely banned from foreign markets and are overinvested in real estate and domestic stocks. [...] The sheer volume of retail investing in BRICS+-denominated instruments in India, China, Brazil and Russia and other countries at the same time could absorb surpluses generated through world trade in the BRICS+ currency. In short, the way to create an instant reserve currency is to create an instant bond market using your own citizens as willing buyers.
 
The United States exploits the world's wealth with the help of "seigniorage."
It costs only about 17 cents to produce a 100 dollar bill, but other countries
had to pony up 100 dollar of actual goods in order to obtain one (HERE)
 
[...] This entire turn of events — introduction of a new gold-backed currency, rapid adoption as a payment currency and gradual use as a reserve asset currency — will begin on August 22, 2023, after years of development. Except for direct participants, the world has mostly ignored this prospect. The result will be an upheaval of the international monetary system coming in a matter of weeks.

 
See also:
Posted by at
Labels: , , , , , , , , , , , , , , , , , ,

Sunday, July 2, 2023

The Civilization-State | Alexander Dugin

The special military operation (SMO) is unanimously agreed by competent experts in International Relations to be the final and decisive chord in the transition from a unipolar to a multipolar world. The main actor of a multipolar world order is neither a nation-state (as in the realist theory of International Relations), nor a unified World Government (as in the liberal theory of International Relations). It is the Civilization-State. Other names for it are Great Space, Empire, Ecumenism.
 
 » Your aim must be to take All-under-Heaven intact.
Thus your troops are not worn out and your gains will be complete.
This is the art of offensive strategy. «
Sun Tzu, The Art of War.

The term Civilization-State is most often applied to China. Both ancient and modern China. As early as ancient times, the Chinese developed the theory of 'Tianxia' (天下), the Celestial Empire, according to which China is the center of the world, being the meeting place of the unifying Heaven and the dividing Earth. And the Celestial Empire may be a single state, or it may be broken up into its components and then reassembled. In addition, Han China itself acts as a culture-forming element for neighboring nations that are not directly part of China - primarily Korea, Vietnam, the Indochina countries and even Japan, which is quite independent.

The nation-state is a product of the European New Age and, in some cases, a post-colonial construct. The Civilization-State has ancient roots and uncertain shifting boundaries. The Civilization-State sometimes pulsates, expanding and contracting, but always remaining a constant phenomenon. Contemporary China behaves strictly according to the principle of Tianxia in international politics. The One Belt, One Road Initiative is a prime example of how this looks like in practice. And China's Internet, which cuts off any networks and resources that might weaken the civilizational identity at the entrance to China, demonstrates how the defense mechanisms are built. The Civilization-State may interact with the outside world, but it never becomes dependent on it and always maintains self-sufficiency, autonomy and autarchy. Civilization-State is always more than just a state in both spatial and temporal (historical) terms.

Russia is increasingly gravitating toward the same status. After the beginning of the SMO this is no longer a mere wishful thinking, but an urgent necessity. As in the case of China, Russia has every reason to claim to be a civilization. This theory was most fully developed by the Russian Eurasians, who introduced the notion of a 'state-world' or — which is the same thing — a 'Russian world'. Actually, the concept of Russia-Eurasia is a direct indication of the civilizational status of Russia. Russia is more than a nation-state (which the Russian Federation is). Russia is a distinct world.


» The Civilization-State always maintains self-sufficiency, autonomy and autarchy. «
[…] A multipolar world consists of states-civilizations. This is a kind of world of worlds, a mega-cosmos that includes entire galaxies. And here it is important to determine how many such States-Civilizations can even theoretically exist? Undoubtedly, this type includes India, a typical Civilization-State, which even today has enough potential to become a full-fledged actor in international politics. Then there is the Islamic world, from Indonesia to Morocco. Here the fragmentation into states and different ethno-cultural enclaves does not yet allow us to speak of political unity. Islamic civilization exists, but the question of its assembly into a Civilization-State is rather problematic. Moreover, the history of Islam knows several types of Civilization-States — from the Caliphate (the First, Umayyad, Abbasid, etc.) to the three components of Genghis Khan's Empire converted to Islam (the Golden Horde, the Ilkhan and Chagatai ulus), the Persian Safavid Empire, the Great Mogul state, and finally, the Ottoman Empire. The borders once drawn are still relevant today in many respects. But the process of gathering them into a single structure requires considerable time and effort. The same situation is also true for Latin America and Africa, two macro-civilizations that remain rather divided. But a multipolar world will somehow push integration processes in all these zones.
 
[March 31, 2023]
Russia's New Foreign Policy Doctrine:
(1.) Free from ambiguity and understatement.
(2.) No more compromise.
(3.) Carthage must be destroyed.

Now the most important thing: what to do with the West? The Theory of a Multipolar World in the nomenclature of theories of International Relations in the modern West is absent. Today the dominant paradigm is liberalism, which denies any sovereignty and autonomy at all, abolishes civilizations and religions, ethnicities and cultures, replacing them by a forced liberal ideology, the concept of 'human rights', individualism (in the limit leading to gender and transgender politics), materialism and technical progress elevated to the highest value (Artificial Intelligence). The goal of liberalism is to abolish nation-states and establish a World Government based on Western norms and rules. This is the line pursued by Biden and the modern Democrat Party in the US, as well as most European rulers. This is what globalism is all about. It categorically rejects the Civilization-State and any hint of multipolarity. That is why the West is ready for war with Russia and China. In a sense, this war is already going on in Ukraine and in the Pacific (the problem of Taiwan), but so far with the support of proxy-actors. 


Ejaz Akram, Zhang Weiwei & Alexander Dugin:
 » The Westphalian system of the sovereignty of nation-states has long since become obsolete and ceased to function.
In its place will be erected a continental system of ' large spaces' (in the Schmittian sense), where individuals
are integrated in the social whole based on the insoluble bond of kinship and common tradition. « (HERE)

In the West there is another influential school—realism in International Relations. Here the nation-state is considered a necessary element of the world order, but only those who have achieved a high level of economic, military-strategic and technological development—almost always at the expense of others—have sovereignty. While liberals see the future in a World Government, realists see it in an alliance of major Western powers setting global rules in their own interests. Again, in theory and practice, a Civilization-State and a multipolar world are categorically rejected. This creates a fundamental conflict already at the level of theory. And the lack of mutual understanding here leads to the most radical consequences at the level of direct collision.

In the eyes of multipolarity supporters, the West is also a Civilization-State or even two—North American and European. But Western intellectuals do not agree with this: they have no theoretical frame for this—they know either liberalism or realism, and no multipolarity. However, there are exceptions among Western theorists, such as Samuel Huntington or Fabio Petito. They—unlike the vast majority—recognize multipolarity and the emergence of new actors in the form of civilizations. This is gratifying because through such ideas it is possible to build a bridge from supporters of multipolarity (Russia, China, etc.) to the West. Such a bridge would at least make negotiations possible. 
 
Want more war? Have it. The Rest Against The West.
Russia's Foreign Minister Sergey Lavrov, June 20, 2023: » Let NATO fight. Russia is prepared. «
 
As long as the West categorically rejects multipolarity and the very notion of the Civilization-State, the conversation will be conducted only at the level of a clash of rough power—from military operations to economic blockade, information and sanction wars, etc.

Posted by at
Labels: , , , , , , , , , , , , , , , , , ,

Thursday, June 22, 2023

The 4 Year Presidential Cycle | Carol S. Mull

The 3 1/3 - Year Kitchin Cycle
Within the average 11.094-year sunspot cycle, there are shorter periods of solar prominence which occur every 40 or 42 months. These were first recognized in 1923 by the American economist Joseph Kitchin. They account for trade fluctuations and have a marked effect on terrestrial weather, alternating between hot and dry to cold and wet. Articles in Cycles magazine proclaim a 40.68-month cycle, an example of which follows:


The Mars/Vesta Cycle (4.17 years)
The planet Mars and the asteroid Vesta have a synodic cycle period of 4.17 years. (Mars often serves as a trigger planet to aspects of the heavier business planets (Saturn, Uranus, and Jupiter); Vesta has consistently been found in a prominent position in the natal horoscopes of stock traders.) The Dow is likely to peak at the first square (90-degree angle from the conjunction) between Mars and Vesta and to bottom at the second trine aspect (240-degree angle from the conjunction). Based on this, you should have bought May 28, 1985, and sold on December 7, 1987. (Ed. Note: October 19, 1987 was Black Monday. December would have been too late in this case.)

The 4 1/2-Year Martian Cycle
According to Lt.Comdr. David Williams, author of Financial Astrology (American Federation of Astrologers), the Mars/Jupiter 4 1/2-year cycle is one of the most dependable market indicators. Mars and Jupiter are in conjunction or opposition every 2.2353 years. Thus, every other conjunction is 4.4706 years, or approximately 234 weeks. Thomas Rieder, author of Astrological Warnings & the Stock Market (Pagurian Press), ties the 4 1/2-year cycle to the synodic period of Mars, The synodic period of a planet is the length of time elapsing between two successive conjunctions of that planet with the Sun as seen from Earth. Mars conjoins the Sun at intervals of about two years and three months, so this cycle is just twice the synodic period of Mars.

 The 4-Year Presidential Cycle
The 3 1/3-, 4.17-, and 4 1/2-year cycles overlap and become what is sometimes referred to as the 4-year presidential cycle. It is theorized that the government stimulates the economy at election time to provide the illusion of prosperity and to insure the re-election of the President. However, closer analysis reveals that the cycle also exists in countries where elections are held every six or eight years or not at all.

Quoted from:
Carol S. Mull - Predicting the Dow.
In: Joan McEvers (Ed. 1989) - Financial Astrology for the 1990s.
 
See also:
Posted by at
Labels: , , , , , , , ,

Energy Flow Theory & Financial Markets | Al Larson

As planets orbit the sun, they exert tidal forces upon the gases of the sun. These tidal forces cause swirling motions on the sun, creating sun spots, solar flares, coronal holes, and other energy events. All these effects combine to vary the amount of radiation that leaves the sun. That solar radiation is our sole source of energy. We are subject to every fluctuation in it. Solar radiation travels to the earth in two ways: as direct radiation, such as sunshine and radio waves, and as charged particles carried by the solar wind. This flow of charged particles forms a torrent of energy that blasts earth creating a bow wave and a wake, just as a boat going upstream would do. This bow shockwave forms a magnetopause between the earth and the sun. It interacts with the earth’s electromagnetic field, shaping and adding energy to it. At the poles, charged particles follow the magnetic lines of force into our atmosphere. This creates a charged layer called the ionosphere.


As this solar wind passes earth, it shapes our magnetosphere into a teardrop shaped envelope of trapped charged particles. As solar radiation varies so does the earth’s magnetic field, atmospheric ionization, and temperature. Scientists have tracked down a host of relationships between these events and a variety of earthly phenomena such as weather, climate, crime rates, plant growth rates, frequency of thunder storms, blood Ph levels, psychiatric emergencies, and many others.

As part of this activity the solar wind charges our ionosphere to a voltage of approximately +300,000 volts. This charged layer above the earth represents the positive end of a battery. When you stand on the ground you are standing on the negative end of this battery. This is the earth’s electric field that we all live in. When you stand erect, it places a voltage on the top of your head of about 240 volts. That is the same voltage as used by your oven element. Fortunately for us, this is not a high current power source. Otherwise, we would fry.
 
 
 
We are affected by this field. This voltage causes currents to flow through us as we live on earth. These currents are approximately 2000 times as strong as the biological currents that run our brain, our nervous system, our muscles, and our organs. All of our body’s electro-chemical systems are subject to the fluctuations in these currents. The ionosphere and the charges on it form a very dynamic system. Events such as solar flares can cause rapid and large changes in this voltage. Our biological circuits feel these changes. These changes can affect all our biological processes including our emotional moods. Scientific studies have shown that changes in ionization cause people to feel giddy to gloomy. These moods show up in the markets. It is well accepted that markets move in response to fundamental forces and investor psychology. A major finding of my work is that investor psychology is driven by the physical energy system. Those emotional rallies and declines are controlled by the currents that run through us. We call those currents emotions.


[...] I have related the timing and price level of market turns to these currents. I have exhaustively verified every link in this chain of cause and effect. I have developed a solid mathematical knowledge of how this energy flow controls pattern, price, and time in markets. While it is not possible in a chaotic system to make perfect predictions, I have been able to formulate a computer program called XGO which predicts markets with between 60% and 90% accuracy […] This S&P forecast has been running about 80% accurate over the past two months. It was computed over one year ago, and used no price data! It is simply a computation of the energy coming into the S&P. These forecasts can be made for any market, for any time in the future. This is a unique scientific technology.

Posted by at
Labels: , , , , , , , , , , , , ,

Tuesday, June 20, 2023

ICT Daily Range Profiles | Michael J. Huddleston

(I) The Classic Buy Day or Sell Day Template
This is the best template to make money since it is a wide range trending day that unfolds mostly on Monday, Tuesday and latest on Wednesday during the London session. The New York session will eventually give a retracement to continue with the trend that was set during the London session. The daily range will last for 7 to 8 hours once the profile is established.
 
▪ Always buy when the market drops at the right time of the day at key support level (buy below the opening price).
▪ On a buy day, if price starts by trading above the opening price, do not fall for that and wait for it to trade below the opening price.
▪ The faster the move to the support the good the trade, (it will look stupid and scary but buy when you see a fast move down to support).
▪ The distance from the open price to support will be 15 – 30 pips on average. If the move from open price to support in London session is more than 30 pips, wait for New York trade.
▪ If you can’t trade London session you can trade New York session to get in sync with London trade.
▪ Always take small profit of 20 – 30 pips at 12:00.
▪ The sell template will be vice versa of the buy template. 
 

Mostly it will give a rally or drop from the daily opening price to the low or high of the day during the London session. The trend usually lasts into 11:00 EST.
 
(II) The London Swing to Z Day Template
This template is found in the middle of a larger price swing when the trend is exhausted after a large explosive move. It is a narrow range day and ideally occurs on Thursday. 
 
▪ This will unfold in the middle of a Larger swing (strong move has minor to no retracement, most of the time price will consolidate after a strong or very big move and this template will unfold).
▪ If you had 2 – 3 days of big move, expect a pause in price.  


Price will initially drop below the opening price, then run above the opening price and go back to the range into consolidation. It first appears to unfold as the Classic Buy or Sell Template. But if it continues consolidating, do not look for continuation into the New York session. Take profits.
 
(III) The London Swing to New York Open / London Close Reversal Template
The bullish version of this template always begins like a Classic Buy or Sell template with a decline below the opening price before price starts rallying. Once price drops, a buy entry forms, price rallies to a higher time frame Point of Interest (POI). If this happens during the New York session, it indicates a classic market reversal. 

▪ The reversal market profile is one that typically forms as a Key Reversal Day.
▪ It will form a sell day during a bullish Asian, London and Possibly into New York session but fails to hold its rally and reverse lower.
▪ The swing up will likely be the right shoulder of an inverted head and shoulders top on higher time frame or swing up to the higher time frame OTE.
▪ This move will many times look just like classic London open buy day.
▪ Many times at 18:00 GMT or even later the market will eventually consolidate into the new trading day.
▪ The reversal market profile will form a buy day during bearish Asian, London and possibly into New York session but fails to hold its lower price slide and reverse higher.
▪ The swing down will likely be the right shoulder of an inverted head and shoulders bottom on higher time frame or swing down to the higher time frame OTE.
▪ This move will many times look just like classic London open sell day.


The template is used to either reach for a bearish order block on a higher time frame, for a turtle soup raid or to close a range. On a bullish day it will first create an initial low of the day during the London session, run up and create the high of the day during the New York session around the London Close, then run back down and clear the initial low that was created during the London session. Ideally it can pan out after the market is in exhaustion based on the higher time frame's dominant trend.
 
(IV) The Range to New York Open / London Close Rally Template
Generally this template is to be expected on days with high or medium impact news events like interest rate announcements, etc. Ahead of these events price will remain in consolidation during the Asian and London sessions. Lows will be cleared initially and after the news price explodes into a directional move.
 
▪ This pattern will unfold most often during the NFP, FOMC and Interest Rates Announcements.
▪ Before the News price will break London Lows and rally after News Release.
▪ Always remember to see cross pairs of the major pair you are trading when this template unfolds.
▪ If Dollar is dropping and EURUSD pair is consolidating EURJPY will be buying.
▪ If Dollar dropping, GBP is buying and EUR is consolidating, wait for GBP to hit resistance level and EUR will give nice range to New York Open/London Close rally setup.
▪ If majors are consolidating but crosses are moving, wait for the crosses to hit key Support/Resistance levels and come back to majors and trade to the direction of the crosses.
 
  
(V) The Consolidation Raid on News Release Template
Unfolding during the New York session on days with high impact news, mostly FOMC press releases. During and shortly after the news old highs and lows of prior consolidation levels will be taken out. Ideally buy when a low is taken out and sell when a prior high was breached.
 
▪ This pattern will unfold most often during the NFP, FOMC and Interest Rates Announcements.
▪ After opening price, market will consolidate before the News.
▪ During the News releases price will drop to induce traders and take stops (this move might not be that big below the consolidation but it has to break the consolidation).
▪ After clearing the stops and inducing, price will move into true direction.
▪ You have to identify Key support level or order block below the consolidation.
▪ See if price will reject at support/resistance within 5 minutes after News release, if it won’t reject then leave the trade because you might be wrong in your analysis.
 
 News are used to Inject Volatility. One of the most difficult ways to trade is to try to trade the News Releases. The Internet is littered with so-called robots or programs designed to quickly give you trading profits on the knee-jerk reaction to the news. This is pure gambling. We can never know for sure what the numbers will be in the reports, we don’t guess. However, we can wait for the release and watch the reaction and many times a signal will form within 5 minutes after the news release. Many times price will trade counter direction to the intended news hawks. 

 
 (VI) The London Swing to Seek & Destroy Template
This is the kind of day that won’t make you money. The Market Makers clear intention is to take out both buyers and sellers. Initially it would give you a London Open opportunity and setup, but very likely that won’t come to fruition. The narrow range zig-zag template lasts throughout the New York session and will oftentimes create an inside day. The template is usually applied in the middle or at the end of a larger price swing. 
 
▪ This template will unfold most often after a big move/swing or at the end of the price move (support/resistance).
▪ It is better to trade when a pair is in the middle of the range knowing it is going to support or resistance rather than trading a pair that is already in support/resistance because we don’t know if is going to hold the Support/Resistance or break it.


Posted by at
Labels: , , , , , ,
Subscribe to: Posts (Atom)