Pivot Trading

GU for me right now is all about BREXIT. Very volatile price action with ministers resigning left and right. I look forward to the day when fundamentals are back in play.

Awesome catch

Yes. GU for me was bullish and I got some nice pips out of it but I wanted a bigger move. I closed it with good profit and I was going to reload but with this resignation I will wait and see what happens. I am still bullish on GU though.

https://www.forexfactory.com/news.php?do=news&id=848397

I hate trading gbp pairs with this brexit business. over 2 years and we are just now approaching a deal lol. However when you get a set up and your rules are met you take the trade.

It has been floating around some time now, but it sums up all this Brexit thing pretty good

LEAVER: I want an omelette.
REMAINER: Right. It’s just we haven’t got any eggs.
LEAVER: Yes, we have. There they are. [HE POINTS AT A CAKE]
REMAINER: They’re in the cake.
LEAVER: Yes, get them out of the cake, please.
REMAINER: But we voted in 1974 to put them into a cake.
LEAVER: Yes, but that cake has got icing on it. Nobody said there was going to be icing on it.
REMAINER: Icing is good.
LEAVER: And there are raisins in it. I don’t like raisins. Nobody mentioned raisins. I demand another vote.
DAVID CAMERON ENTERS.
DAVID CAMERON: OK.
DAVID CAMERON SCARPERS.
LEAVER: Right, where’s my omelette?
REMAINER: I told you, the eggs are in the cake.
LEAVER: Well, get them out.
EU: It’s our cake.
JEREMY CORBYN: Yes, get them out now.
REMAINER: I have absolutely no idea how to get them out. Don’t you know how to get them out?
LEAVER: Yes! You just get them out and then you make an omelette.
REMAINER: But how?! Didn’t you give this any thought?
LEAVER: Saboteur! You’re talking eggs down. We could make omelettes before the eggs went into the cake, so there’s no reason why we can’t make them now.
THERESA MAY: It’s OK, I can do it.
REMAINER: How?
THERESA MAY: There was a vote to remove the eggs from the cake, and so the eggs will be removed from the cake.
REMAINER: Yeah, but…
LEAVER: Hang on, if we take the eggs out of the cake, does that mean we don’t have any cake? I didn’t say I didn’t want the cake, just the bits I don’t like.
EU: It’s our cake.
REMAINER: But you can’t take the eggs out of the cake and then still have a cake.
LEAVER: You can. I saw the latest Bake Off and you can definitely make cakes without eggs in them. It’s just that they’re horrible.
REMAINER: Fine. Take the eggs out. See what happens.
LEAVER: It’s not my responsibility to take the eggs out. Get on with it.
REMAINER: Why should I have to come up with some long-winded incredibly difficult chemical process to extract eggs that have bonded at the molecular level to the cake, while somehow still having the cake?
LEAVER: You lost, get over it.
THERESA MAY: By the way, I’ve started the clock on this.
REMAINER: So I assume you have a plan?
THERESA MAY: Actually, back in a bit. Just having another election.
REMAINER: Jeremy, are you going to sort this out?
JEREMY CORBYN: Yes. No. Maybe.
EU: It’s our cake.
LEAVER: Where’s my omelette? I voted for an omelette.
REMAINER: This is ridiculous. This is never going to work. We should have another vote, or at least stop what we’re doing until we know how to get the eggs out of the cake while keeping the bits of the cake that we all like.
LEAVER/MAY/CORBYN: WE HAD A VOTE. STOP SABOTAGING THE WILL OF THE PEOPLE. EGGSIT MEANS EGGSIT.
REMAINER: Fine, I’m moving to France. The cakes are nicer there.
LEAVER: You can’t. We’ve taken your freedom of movement.

Nice trade!

Well, make sure you lock in your profits coz GBP pairs are insane right now. You'll never know in a blink of an eye, you're already negative.

When BREXIT dust will finally settle down in whatever way and we'll be back to fundamentals we'll be presented with some good opportunities to buy GBP dips.

overall i am bullish on pound , but for the moment just play what i can get...

Yeah already closed. That was enough.

So 2 senior ministers and 2 junior ministers now resigned. Prime Minister speech in 10 mins in house of commons should be interesting. In other news UJ continuing to move down.

EN

NZDCAD hovering around R78, a breach down .90 could be a good starting point to build shorts.

UJ Shorts closed at S38, started to open shorts at R38 ,good pips

my target s100

*Reopens new batch* HAHA

Yeap, now I'm just going to trade pullbacks if new trend starts, but the counter trend trade, for me its done

well, sorry about harmonics indi thats the first (but for me it is very helpfull thing/tool) second, price reached level that i am usually pass (but PA at lower TF is good, very good), third there is the boogey man Brexit... if is not, just call it textbook SHORT!

When there is carnage look for opportunities EG should be on watch list
its at extreme pivots now

It went up more than three times 20 days daily ADR, extreme levels for GA & GN too.

Remember this post?


I think now is an opportune time to look for longs on GBP pairs - setup looking good for this now.

Smiling because I caught most of the initial move - just one position though.