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How to trade the UK election

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Well, now or in 15 mins' time if there is another green candle would be the time to buy.  😴EUR_USD_20191213_01_00.thumb.png.8425cb3dd921abbf10b7e3a8cce71cb1.png

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There was a spike around 22:00 that was untradeable, the algos and professional traders must have made all their profits instantaneously.  This certainly wasn't something that retail punters could take part in.  Maybe we can get some of the leftovers, at some point.  Better get used to that concept, as it's business as usual politically and economically!

GBP_USD_20191213_07_24.thumb.png.bdd5a6910e959977bc3b22d0a46382ce.png

Edited by dmedin

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2 minutes ago, dmedin said:

There was a spike around 22:00 that was untradeable, the algos and professional traders must have made all their profits instantaneously.

yes, the big players had their orders in place and it was all over as soon as the exit polls showed a potential landslide. 

If the exit polls had shown the race was going to be neck and neck then the (er, swingers) party would have lasted all night.

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14 minutes ago, Caseynotes said:

Some pieces I picked out: 

  • A stronger pound hits overseas earnings, and could result in a tough day for miners like BHP Billiton and Rio Tinto, along with the pharmaceutical giants AstraZeneca and GSK.
  • The FTSE 100 is set for a strong open this morning, as UK assets benefit from the election result and the China deal news.
  • Key winners in the wake of the news will be UK-focussed stocks, with housebuilders in the frame for further gains, as the sector is supported by hopes of a return to UK economic growth and the removal of fears that a Labour government would impose a more punitive taxation regime.
  • We should watch out for more international names that might struggle as the pound continues to strengthen. Sectors such as pharma and mining rallied on the day of the Brexit result as sterling weakened, but today the reverse could be in play.
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17 point spread on AstraZeneca.  Similarly high on many other stocks.  Again, just not a good idea to trade right them right now :(

 

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6 minutes ago, Caseynotes said:

Great clip from this mornings GMB, Labour party members in total meltdown.

Why is it 'great' to see people upset?

Oh ... arguing and stuff.

Edited by dmedin

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We will get Brexit done on time by the 31st of January, no ifs, no buts, no maybes

 

Where have I heard that before? 🤔

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12 minutes ago, dmedin said:

Why is it 'great' to see people upset?

Oh ... arguing and stuff.

you missed he last line. "They're all in the same party."

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22 minutes ago, Caseynotes said:

you missed he last line. "They're all in the same party."

 

'Gorgeous' George Osborne was there, and the camera caught him with his usual smug grin.  

You know, the privileged rich boy who has half a dozen cushty jobs - as if he wasn't rich enough already, by virtue of inherited wealth.

Got to be careful what you wish for.  England is heading back towards feudalism - lords and peasants!

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4 minutes ago, dmedin said:

You know, the privileged rich boy who has half a dozen cushty jobs - as if he wasn't rich enough already, by virtue of inherited wealth.

2 minutes ago, dmedin said:

England is heading back towards feudalism - lords and peasants!

which is all very similar to the more recent histories of Russia and China towards which Corbyn would have lead us, a lucky escape then.

 

 

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6 minutes ago, dmedin said:

Here we go!  Get ready to buy the dip.

GBP_USD_20191213_09_22.thumb.png.9d3f814aeaa052975adaea032332ec58.png

Pin bar on the M15 off the pivot and at the monthly chart resistance level (Purple).

image.thumb.png.cbccad0915674df60dc756c6a487a7a8.png

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It's testing the pivot and going into oversold mode.  If it can hold then will buy once RSI crosses above 30 😺

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1 minute ago, dmedin said:

It's testing the pivot and going into oversold mode.  If it can hold then will buy once RSI crosses above 30 😺

I'd be concerned that the bulls had a go this morning but couldn't manage any follow through and have now let the bears push price back down through the morning's buying level (1.3356).

So from here I'd want to see the bulls take back control to rally price back up around 1.3400 and then see a pullback before looking to enter. They really should have done a better job on the first effort. 

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Ah well, I've given up all that I made in the last day.  Here's hoping the sell offs just now are just priming the pump for another push up.

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On 10/12/2019 at 11:51, CharlotteIG said:

For the stock traders out there, we've produced a podcast 'Stocks to watch around the election'. This is only 7 minutes long and runs through different sectors and specific stock that could be positively or negatively impacted around the election on Thursday. Even if you're not a stock trader it's worth a listen. 

You can find these podcasts on Spotify, Apple Podcast and Google Podcast by searching IG Trading the Market.  

 
 
 
Let me know what you think of it! 

 

I like the fact that the analysts focus purely on money and profitability without getting too political.  That's what we want to see.  (After all, why are any of us here except to make money ...)

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