A decent European morning across the board with only one highlight. EU and Canada ratifying the free trade agreement (finally some good news for the global economy from somewhere).
It's good news fro both especially Canada for the mid and long run. Canada and to lesser the extend the EU (they need to clear the elections mumbojumbo first) are aligning to be 2 of biggest winners of the UK and US retreating from the global economy.
Eyes on NY, with Euro looking extremely soft and a soft wind from the US will blow it.
sisse
Fundamentally the long and mid term high is already cooked in FTSE but Technically we are still in 'don't jump the gun' mode.
7120.xx was the first test after major break up (@chester123 in the thread also was betting on the reversal on the last M candle but I disagreed with him too...we had a very detailed discussion on FTSE) and its was a no no in my books. Fading an ATH first test of a break up was definitely not in my plan and not really a good idea from a strictly TA point of view in my books.
You are betting against the whole City, and the City was not loaded but was UBER loaded to the long side sleeping (hunting for bargains) with the Government short term and with the BOE in their side pumping cash to keep the brexit jitters under control. On top, US and Europe (the EU) are printing very solid numbers and with US equites on a high with Trump fiscal cuts for the biggest corporations.
It was serious relocation and profit taking last month especially since the UK announced that it was not only leaving the EU but the common market. The 'days are counted in the FTSE especially if the Dutch and French stay put and not jump on the nationalist bandwagon. The UK may be be completely isolated from Europe and trade with very unhappy neighbours as early as Q3...
TA wise a failure to take 736x will unlock the potential trade opportunities ....
sisse
It's good news fro both especially Canada for the mid and long run. Canada and to lesser the extend the EU (they need to clear the elections mumbojumbo first) are aligning to be 2 of biggest winners of the UK and US retreating from the global economy.
Eyes on NY, with Euro looking extremely soft and a soft wind from the US will blow it.
sisse
{quote} damn, thrown out again
7120.xx was the first test after major break up (@chester123 in the thread also was betting on the reversal on the last M candle but I disagreed with him too...we had a very detailed discussion on FTSE) and its was a no no in my books. Fading an ATH first test of a break up was definitely not in my plan and not really a good idea from a strictly TA point of view in my books.
You are betting against the whole City, and the City was not loaded but was UBER loaded to the long side sleeping (hunting for bargains) with the Government short term and with the BOE in their side pumping cash to keep the brexit jitters under control. On top, US and Europe (the EU) are printing very solid numbers and with US equites on a high with Trump fiscal cuts for the biggest corporations.
It was serious relocation and profit taking last month especially since the UK announced that it was not only leaving the EU but the common market. The 'days are counted in the FTSE especially if the Dutch and French stay put and not jump on the nationalist bandwagon. The UK may be be completely isolated from Europe and trade with very unhappy neighbours as early as Q3...
TA wise a failure to take 736x will unlock the potential trade opportunities ....
sisse
Pending conversations? PM for a chat...I am mainly in OTM now
, 60.000$/pip, imagine account size.
Track his position in next few days to find out.