January 31st 2020
Reminder bleeps from Alexa : Prime Minister’s Speech at 10 pm.
I warp myself warm in the comfort of my home to watch Boris Johnson do a Facebook live only to turn my attention from my tablet to the television. BBC 10 o'clock news displays a light-work countdown plastered over the wall of No.10 Downing Street. Mr. Johnson is not to be seen anywhere outside his official home. The nation witnessing every second as we proceed towards “the moment”.
The technical analyst in me reflects on what this did to the Eur/USD chart. Since the time we voted yes in 2016, every news followed with a turnaround or indecision candlestick. A Doji A Dark Cloud Cover A Bearish Marabazo A Shooting star Or a Bearish Engulfing Candle For those not into candlestick patterns, these aren’t names of music bands or movies. Nor is it the weather channel. It’s just another way to read the charts called the candlestick pattern. This confirms that ... The charts don’t lie. The chart shows the sentiment of the market, the behaviour of the traders affected by the news. You don’t need to follow the news. The charts will follow the news guiding you what might unfold next.
Chart: Trading View
Midnight at Brussels, 11 pm in London, 31st Jan 2020, Britain had left the EU after 47 years of partnership.
The Big Ben blessed the hour with its recorded chime
I sit with my family, witnessing history, a new era begins.
It felt like it happened just like that. It's just the way it changes, like the shoreline and the sea The cheering crowd at Parliament Square sings Lord Save The Queen. To some, it was a sigh, for some, a cry.
Others thought it was freedom but for some it felt like death.
Nonetheless, there were winds of change and colours of the union jack flying high. For many who doesn’t know the term "single market" and why we left the EU, well it was just another day.
Others pretend to know by using words - It will do well to our “economy”. I look back at my charts and I think... Like the markets, this can go two ways- Lift us Up or Bring Us Down.. If it does good, then Walla..! Life is good. If it doesn’t..... I once heard that most millionaires are made during adversity.
So! A toast to that while I leave you on a positive note. Oh well!
I missed seeing Boris outside his official home. He could be shedding tears of joy in his office.
The man delivered what we have today.
Cheers to that and to Britain!
Once for the devil and once for Christ
Timeline Events Source: The Week:
23 June 2016 - UK votes to Leave
13 July 2016 - Theresa May becomes PM
17 January 2017 - Brexit means Brexit In her first substantial speech on Brexit, May said that remaining in the single market would mean being bound by EU laws, which “to all intents and purposes, would mean not leaving the EU at all”.
29 March 2017 - trigger warning article May triggered Article 50 of the Lisbon Treaty, formally kick-starting a two-year countdown to the UK exiting the bloc.
8 June 2017 - snap general election
8 December 2017 - birth of the backstop: Following a series of late-night negotiations in Brussels, the UK and the EU agreed a deal on the UK’s so-called divorce bill, covering both EU and UK citizens’ rights and the so-called Northern Irish “backstop”.
6 July 2018 - Chequers, mate After the European Union (Withdrawal) Bill became law at the end of June, May took her cabinet to her country retreat Chequers in order to sign off a collective position for the rest of the Brexit negotiations with the EU.
25 November 2018 - backstop’s back Following some enforced changes to May’s Chequers Plan at the behest of the EU, a 599-page draft Withdrawal Agreement was published that contains a fleshed-out backstop which angered both the DUP and the Tory’s Brexiteers.
15 January and 12 March 2019 - once more with meaning Having pulled the vote before Christmas over fears that she would lose, May attempted to get her deal ratified by Parliament on 15 January. Having pulled the vote before Christmas over fears that she would lose, May attempted to get her deal ratified by Parliament on 15 January.
12 April - the end of the beginning? In April, the UK’s deadline for leaving the UK was pushed back to 31 October - with or without a deal - in the wake of May’s failure to push a deal through the Commons.
24 June - May bows out: After failing three times to get her withdrawal agreement through Parliament, Theresa May set a resignation date of 7 June.
24 July - the Johnson era beings: Boris Johnson entered Downing Street after winning the Conservative party leadership election with 66% of the vote, a comfortable victory over rival Jeremy Hunt
28 August - Parliament put on ice In August, reports emerged that the new PM had asked the Queen to suspend Parliament for five weeks in the run-up to 31 October.
4 September 2019 - MPs take back control and BoJo demands general election After voting to take control of Commons business for the day, MPs backed a bill blocking a 31 October no-deal Brexit
24 September 2019 - Supreme Court brands prorogation ‘unlawful, void and of no effect’ In a landmark decision, the UK Supreme Court ruled that Boris Johnson’s five-week prorogation of Parliament in the run-up to the Brexit deadline was “unlawful”.
2 October 2019 - Johnson sets out his ‘reasonable compromise’ Brexit deal By early October, the PM had made a formal proposal to the EU setting out his alternative to the Irish backstop. He claimed his plan was “entirely compatible with maintaining an open border in Northern Ireland”, unlike the “bridge to nowhere” backstop.
6 October 2019 - reaching deal ‘essentially impossible’ Following a phone call between Johnson and Angela Merkel, a Downing Street source told journalists that a Brexit deal is “overwhelmingly unlikely”.
19 October 2019 - the showdown Parliament hosted a special session for MPs on Saturday 19 October - less than two weeks before the Halloween Brexit deadline.
12 December 2019 – election day After Parliament knocked back Johnson’s Brexit deal, the prime minister insisted the only way to “get Brexit done” would be to hold a general election and break the Parliamentary deadlock.
31 January 2020 – departure day Having won the majority he so desired in December, Johnson has now passed his withdrawal agreement and paved the way for the UK to leave the EU this Friday.
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