"Winner takes all" on EURGBP for UK Elections
Updated
... after what was another upsetting weekend in the city, sadly, no surprises!!! Elections now taking centre stage in UK alongside Saudi/Qatar relations.
We'll wrap up the macro details in a few as I will be publishing 2 setups on EURGBP for those wishing to take part these will include references to the interpretation/context of recent numbers and politics.
-> The options ... Long or short.
Those choosing to take part have 2 triggers to pick from; price and fibs and we can compare at the end which was the best (if any).
(i) FIBS
Longs ->
Shorts ->
(ii) PRICE
Longs ->
Shorts ->
----------
Choose from;
BUY: Limit BUY @ 0.865x -> TP1 0.882x -> TP2 0.900x
SELL: Limit SELL @ 0.881x -> TP1 0.845x -> TP2 0.823x
----------
This is the range we are currently trading in:
Bottom of range: 0.8350x
Top of range: 0.9270x
Mid: 0.8750x
=> Conservatives remaining with unchanged majority, expectations will offer a relief rally towards the 0.84xx handle after the election. This would give us continuation of the range (Mid/Low) of 0.84xx - 0.88xx
=> Conservatives losing majority and Corbyn the communist getting the hung parliament we will see expectations towards the 0.90xx handle in a swift knee jerk before settling in the 0.84xx - 0.88x range till the end of this year when we will start to trade the impact of Brexit in equities.
Come on jump in and make a call!!
We'll wrap up the macro details in a few as I will be publishing 2 setups on EURGBP for those wishing to take part these will include references to the interpretation/context of recent numbers and politics.
-> The options ... Long or short.
Those choosing to take part have 2 triggers to pick from; price and fibs and we can compare at the end which was the best (if any).
(i) FIBS
Longs ->
Shorts ->
(ii) PRICE
Longs ->
Shorts ->
----------
Choose from;
BUY: Limit BUY @ 0.865x -> TP1 0.882x -> TP2 0.900x
SELL: Limit SELL @ 0.881x -> TP1 0.845x -> TP2 0.823x
----------
This is the range we are currently trading in:
Bottom of range: 0.8350x
Top of range: 0.9270x
Mid: 0.8750x
=> Conservatives remaining with unchanged majority, expectations will offer a relief rally towards the 0.84xx handle after the election. This would give us continuation of the range (Mid/Low) of 0.84xx - 0.88xx
=> Conservatives losing majority and Corbyn the communist getting the hung parliament we will see expectations towards the 0.90xx handle in a swift knee jerk before settling in the 0.84xx - 0.88x range till the end of this year when we will start to trade the impact of Brexit in equities.
Come on jump in and make a call!!
Note
for those who are 'LONG' via fibs... Note
and there we have it for those who took the fib execution and were long... very well done!!
Note
A royal mess for T.May and with that ... e.u towards 0.9Note
so, which was the best trigger... fibs? or pure price? Note
Well played to those who chose 'Long'Note
Note
" BUY: Limit BUY @ 0.865x -> TP1 0.882x -> TP2 0.900x "TP1 has been cleared
Note
TP2 has been clearedTrade closed: target reached
Note
Well done to those who took the time to read this description, which outlined the trade from start to finish - there is no margin for error, all was said above for a complete flawless swing for 350 pips and counting. A few I know are still holding, and a few owe me a beer.
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