STA Blog

Charting the Markets with IG TV: Nicole Elliot hits the airwaves as Brexit turmoil bits

IG TV host Jeremy Naylor this week invited Fellow of the Society of Technical Analysts, Nicole Elliott, onto IG’s regular slot looking at the week’s markets from a chartist’s perspective. Both agree that Brexit is dominating the headlines, Britain’s Supreme Court forced to make a decision on prorogation of Parliament at Westminster, possibly caused by PM Boris Johnson driving with a ‘’no deal Brexit in the boot of the car’’ to Luxembourg.

Using her favourite oscillators – the MACD and momentum – she looks at key stock markets and exchange rates, with an unsurprising focus on the pound. These ‘’secondary measures’’ as she calls them are one step removed from the action, being a mathematical manipulation of price data, and therefore don’t have the ‘fear and greed’ grist that raw prices have.

She then slips into the current meme, which is a Brexit deal. ‘’Do deals as you go along; renegotiate business contracts and suppliers’’. While not exactly technical analysis, it does echo the theme of the industry which is: watch for patterns and potential outcomes, preparing for success (and avoiding failure) as you go along. Be flexible.

While believing cable can go higher because it’s still very cheap, she feels it’s time it took a breather; likewise EUR/GBP which has a ‘’Mont Blanc’’ peak: AKA inverted V-shaped formation. Equally creative with her gold pattern – ‘’a sort of Lego-blocked head and shoulders’’ she suggests ‘’the stairway to heaven is sort of faltering’’.

Click here to view.

Posted in Finance, General, Markets, STA charts, STA education, STA news, Technical Analysis, Technical Analysis Courses
Tags: , , , ,

The views and opinions expressed on the STA’s blog do not necessarily represent those of the Society of Technical Analysts (the “STA”), or of any officer, director or member of the STA. The STA makes no representations as to the accuracy, completeness, or reliability of any information on the blog or found by following any link on blog, and none of the STA, STA Administrative Services or any current or past executive board members are liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. None of the information on the STA’s blog constitutes investment advice.

Not ready to join? Stay Updated

If you want to learn more about membership and being part of the STA, sign up for our updates so we can keep in touch.


Monthly Meetings

The STA holds 11 monthly meetings in the City of London, including a summer and Christmas party where canapés and refreshments are served.


Latest Videos

As a service to our members, many of whom are unable to attend all our monthly meetings, we have been making videos of meeting presentations for several years.


STA Libraries

The STA has an extensive library of classic technical analysis texts. There are over 1000 books in the collection. It is held at the Barbican Library with a smaller...


Market Technician

Latest research and news

More Info

World Class Tutors

STA Course Lecturers

More Info


Be part of something special

More Info


View latest posts

More Info