GBPUSD Brexit washout

Sig · Dec 11, 2018

Turveyd said:
No they won't / Can't, cause if we are in the EU on the 1st April 2019 then the EU laws stopping tax evasion will become UK Law, then a few billionaires won't be able to save 50p ( relative worth to them ) on there tax bill, and the richer you are the tighter you are!

Hadn't heard if this angle yet, what's the name of the specific program (or other useful Google keyword)?

athlonmank8 · Dec 11, 2018

Sig said:
Hadn't heard if this angle yet, what's the name of the specific program (or other useful Google keyword)?

Yeah me neither. Thats interesting

wwatson1 · Dec 17, 2018

Sig said:
How in the world do you chartists justify the belief that a forex chart is going to determine what the government of the UK will do regarding Brexit (or any other major event)? I don't think May is checking out the Forex chart and saying "look, here's a teacup and kettle being smashed over a head and shoulders attached to a falling wedge. Definitely need a second referendum!" Or is this all preordained and the chart is the equivalent of reading the goat entrails?

You never know for sure what’s going to happen next, especially long term, but my opinion is you can nail a quick trade off the back of short term momentum found on a chart, so who cares

schweiz · Dec 17, 2018

Turveyd said:
No they won't / Can't, cause if we are in the EU on the 1st April 2019 then the EU laws stopping tax evasion will become UK Law, then a few billionaires won't be able to save 50p ( relative worth to them ) on there tax bill, and the richer you are the tighter you are!

Complete BS. UK kicked Abramovich out of the UK. Abramovich moved to Israel. Others will have to follow.

https://www.nbcnews.com/news/world/...abramovich-left-waiting-u-k-visa-amid-n875956
The Treasury Department included billionaire Roman Abramovich on a list of Russian tycoons and politicians who are close to Vladimir Putin and could be the target of future sanctions. Abramovich is effectively banned from entering the UK until he can prove that his money is clean.

https://www.dailysabah.com/europe/2...in-london-are-spies-for-kremlin-report-claims

Sig · Dec 17, 2018

wwatson1 said:
You never know for sure what’s going to happen next, especially long term, but my opinion is you can nail a quick trade off the back of short term momentum found on a chart, so who cares

I don't think predicting the price of a currency pair nearly a month from now that is subject to almost unprecedented outside uncertainty, which is what I was responding to, could be termed a momentum play. I'd also argue that trading a currency pair that is currently subject to almost hourly huge moves based on real world political events is any kind of "momentum" play unless the word has an alternate opposite meaning I'm unaware of.

wwatson1 · Dec 17, 2018

Sig said:
I don't think predicting the price of a currency pair nearly a month from now that is subject to almost unprecedented outside uncertainty, which is what I was responding to, could be termed a momentum play. I'd also argue that trading a currency pair that is currently subject to almost hourly huge moves based on real world political events is any kind of "momentum" play unless the word has an alternate opposite meaning I'm unaware of.

Oh, I only trade what’s happening here and now intraday and I’m usually flat or heged at night. When you catch a move from chart break just before it accelerates and get out half way through when everyone else is starting to pile in, that’s what I mean buy a momentum play.

formikatrading · Dec 31, 2018

Happy New Year, Everyone! As I type this, GBP/USD is up for the month of December, although only slightly. Nevertheless, it confirms the importance of trading what you see and trusting your methodology instead of speculating what people will do. Best wishes for 2019!

pipeguy · Jan 2, 2019

wwatson1 said:
Oh, I only trade what’s happening here and now intraday and I’m usually flat or heged at night. When you catch a move from chart break just before it accelerates and get out half way through when everyone else is starting to pile in, that’s what I mean buy a momentum play.

Thanks for instructive approach, I guess many algos work this way, but unfortunately it's not suitable for manual trading, we don't even need to try to prove that

mlawson71 · Feb 25, 2019

Amid the growing uncertainty of a hard Brexit just a month away traders are pulling away from the British Pound, because of the increased volatility of the currency.

And that is felt not only with the value of the pound, but also with the trading volume. Once the second most traded currency pair, now the GBPUSD trading volume has gradually shrunk to record low.

Turveyd · Feb 25, 2019

Amid the growing this is all bs and show, they want hard brexit and there trying to push it through while acting incompetent.

Being played, normal people going to suffer and they just don't care as long as they can make a few bucks