Here are the crucial mistakes everyone is making about today's Italian referendum | Forex Factory

  • Here are the crucial mistakes everyone is making about today's Italian referendum

    From businessinsider.com

    Italy's constitutional referendum, in which the country will vote on a series of changes to the way Italy's institutional frameworks are structured, is one of the biggest political events in Europe in 2016. In the eyes of most commentators, the result is unlikely to be as seismic a shock to the continent as the UK's Brexit vote or Donald Trump's presidential victory, but it is a nonetheless significant event. Polls opened in Italy earlier on Sunday morning, but even as voting begins, some people are still getting lots wrong about the implications of the result. Writing to clients on Friday, November 25, Fabio ... (full story)

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OnlineAddict
Dec 4, 2016 1:14pm
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It doesn't mean anything...Renzi is just a politician...even if the answer is NO, he will get out of leaving somehow...finds an excuse why he needs to stay, like the politicians always do. And if he leaves, then what...who knows when the next elections are going to be, if summer 2017 or later and who the hell knows who wins those elections. This referendum means shit.
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Not-KPMG
Dec 4, 2016 6:50pm
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Quoting Not-KPMG
A horrendous drop, then up??
...if past is any example

Trade safe
Yep closed few.

Quoting DonFF
I too agree that the significance of this election has been over blown
Who cares. It's all relative

Wait for European bankers to come online, piss themselves.... Break 1.05..... Then MAYBE buy it slowly.

GL.
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spzd
Dec 4, 2016 1:09pm
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This banker seems to be the one making the crucial mistakes. He fails to see that there is a huge anti-globalist sentiment in the world.

The bottom line is:

Yes means surrender to the EU

No means Italy has a chance to free themselves from EU chains
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Not-KPMG
Dec 4, 2016 1:48pm
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A horrendous drop, then up??
...if past is any example

Trade safe
Reply
DonFF
Dec 4, 2016 3:34pm
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Quoting TheCaveman
I think the market has already 'priced in ' a NO.

Italy have had 63 governments in 70 years...I think they're used to it by now
You maybe right which is why its going up slowly in the channel
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DonFF
Dec 4, 2016 3:42pm
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I suggest scouting it to the upside if it moves down to 1.048.

I believe it is likely to go down as it has not done the high probability move of 200-300pips to downside as yet for Dec.

Even though this is the case the weekly and monthly candles are indicating change of direction to the upside for both week and month with D1 and H4 channeling up also.

This simply mean that all the above time frame traders will be eyeing upside movement.
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cliffedwards
Dec 5, 2016 5:00am
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Quoting TheCaveman
I think the market has already 'priced in ' a NO.

Italy have had 63 governments in 70 years...I think they're used to it by now
+++ I think you understand Italy... and how it works.. Not many people do.. LoL
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petbax
Dec 4, 2016 1:36pm
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Question then: does a no vote mean a significant drop in the €?
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DonFF
Dec 4, 2016 2:07pm
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Not horrendous....down to 1.048

I suggest sending out a scout at that price with stop 10-30 pips below there.....not much to lose for the potential 1500 pips
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TheCaveman
Dec 4, 2016 3:20pm
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I think the market has already 'priced in ' a NO.

Italy have had 63 governments in 70 years...I think they're used to it by now
Reply
DonFF
Dec 4, 2016 4:49pm
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I too agree that the significance of this election has been over blown
Reply
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