As if we hadn’t already suffered enough lately, today’s event roster includes this month’s FOMC minutes being delivered around 2:00pm Eastern (18:00 GMT) plus ECB board member Peter Praet delivering a speech shortly after. Which means markets across the board will most likely be stuck in nail-biting hibernation mode until then. To keep my rowdy rabble entertained I’ll do a quick and dirty momo update as I’m seeing some interesting developments.
I bought some bitcoin a few years ago at about $440.- and kind of had forgotten about it since as I only had been interested in digital currencies as a possible alternative payment method here at Evil Speculator. However after some research into the space I discarded the idea for two reasons: For one should BTC ever fail then switching recurring subs back to the old greenback would be problematic. And second the gyrations even back then made my head spin and I didn’t consider it ready for prime time.
We’re half way through the year and the upcoming 4th of July weekend officially marks the beginning of the long awaited vacation season. Since most of you will be either mentally or physically absent tomorrow let’s devote whatever remains of our collective attention span to a comprehensive perspective on where we are on the momo front.
The best thing I ever did as a trader was to completely ignore the news and simply focus on my technical analysis and system rules instead. A policy that not only has kept me out of a laundry list of bear traps over the years but also allowed me to take advantage of entry opportunities while the majority of participants were left rubbing their backside.