Profit:-$40.11 Total: $1,300.63
The Brexit vote came out ahead and the citizens of UK voted on leaving the EU! This was truly an amazing experience to see the markets as different sections came out with a “remain” or “leave” lead; it was like the superbowls between the two parties: In and Out. Markets were going crazy and eventually the Pound collapsed due to an unexpected win by the leave group. The aftermath of this vote was incredible, the GBP/USD not only made 2016 highs but also 2016 lows on the SAME DAY! Equities went nuts, Gold exploded to the up side, and the GBP/USD went to make 31-year lows. Britain’s Prime Minister, David Cameron, also made his speech to step down the office in October due to disagreement with the Brexit vote. The whole event was a truly historic moment I’ll never forget.
I couldn’t really trade mid Brexit votes due to high spreads and wicked volatility. However, I did manage to ride the Pound and Euro short momentum when it looked like Brexit was final. I had a spectacular trading day up until this morning for NY session. I was really expecting the EUR/USD and GBP/USD to make new lows from yesterday’s catastrophe. Instead, NY session was forgiving to the pair, which I think was due to global central banks attempting to save the poor Euro and Pound. I couldn’t catch the short EUR/USD and GBP/USD but that’s okay. All in all, I’m perfectly fine with today’s losses and I’m prepared to trade the new week with caution since there is a new paradigm shift in the markets. 2016 is truly a historic year.
This is what happened in the markets when NY opened after Brexit. You can see safe havens such a metals, bonds, USD and JPY positive while everything else is bright red.