Today was another quiet session, the market did a bit better from the Brexit, but now the whole thing is surrounded by the politicians of Britain and Euro, a bunch of political drama now. It felt that the whole world is trying to move on, or better, completely disregard Britain. No surprise, although i personally love London, Britain has not been a world super power for a very very long time.
I guess the main coverage was due to their financial industry, which are tied to everything i do and all the TV and news articles i paid closed attention to, but once outside trading, i realized no one is even talking about it anymore among my non-trader circles.
Anyway, quiet session and still waiting for the price actions to retract to adequate level.
The whole fundamental picture is still bearish toward GBP and EUR, and bullish toward USD, CHF & JPY.
The trading idea is very simple nowadays, before this chaotic in Brexit settles down, which will probably take few weeks or even longer, every economic datas will be highly disregarded as people will only follow the sentiment of risk on/off
So, whenever you find a good technical level, just sell GBP & EUR and BUY USD JPY CHF
This will probably be the best trades for weeks.
Of course, the risk is the price actions, short-seller covering and central bank intervention, which WILL happen for sure.
The best way to protect yourself is to have wide stoploss, only enter at good level, and be patient, let the market present the opportunity to you.
We have many pending orders but now we’re in
SHORT EUR/CHF from 1.0850
SL @ 1.1025
SHORT GBP/JPY from 137
SL @ 140
I must say that when times like this, the patience is your best trading method….which is always what i’m really bad at.