SUNDAY UPDATE: CRYPTO WAKES UP A LITTLE

“Some days it sure feels like it!”

First up today is WTI Crude Oil, the 20 Day Range MA directly below.

click on any chart or table to enlarge

Like stock indices and gold, WTI is “skewed” about 20 cents per barrel due to

the “didn’t happen” war with Iran. With huge over supplies of crude from

everywhere, it’s hard to see how this shit can maintain any rally without

geopolitical tensions to support it … so, as long as Iran is hanging around and

making the case for potential trouble, crude has got no place to go.

Directly below, the crypto Dollar pairs 20 Day Range MA’s for the current week.

Some well needed VIX increases across the board, no matter how much … take

victories where you can get ‘em … of course, what makes crypto hard to trade, is

the cost to trade the various pairs … directly below, the “VIX MATRIX TABLE”.

For example, from the table above, you can see that to simply trade an

approximate $1,000 worth of EOS/USD [$3.45 per coin as I write], my RT

commission alone is going to cost me approximately 1.74% of the average range

… if I trade 300 coins, you can approximately double that to about 3.5% of the

range … right now, if I wanted to trade BTC, depending on my volume, I need

BTC to go $9.50 - $13.00 in my profit direction just to BREAK EVEN, and if you

decide to “position” a trade through rollover, it’s gonna cost you about $9 per

coin per day … add it all up, and if you happen to lose on a trade, that “vig” is

gonna leave a mark … if you’re trying to “trade it” during the day, you’re gonna

need at least a 70/30 batting average of wins/losses to simple break even and get

over that $10+ hurdle … $10+ ADDED TO LOSSES, AND $10+ SUBTRACTED

FROM WINNERS … and it’s just as bad if not worse in the other dollar crypto

pairs.

Directly below, the BTC crypto crosses.

And what I said above for the crypto dollar pairs, goes especially double for

BTC crosses … there simply isn’t enough here to warrant trading them cuz of

their extremely high cost + the spread … the 20 day Range MA’s simply have to

go much higher for these to be viable trading pairs.

Onto the week … until tomorrow mi amigos … Onward & Upward!! 

Have a great weekend everybody!

-vegas