How I traded the night before historic moment #brexit?
Now we know that Britain voted for #brexit, I was also preparing for my own #brexit - exit of my #forex trades ahead of #brexit.
Brexit EU referendum
Days before EU referendum, market was hyped up with bookie odds at 73% for #bremain. I don't accept this, because when it comes to voting, ball is round, anything could happen. I opted to long #nzdusd - a trade to buy New Zealand dollars against US dollars.
I waited for retracement so I could buy low. Advantage of buying low after an upflow is that you could determine your possible loss accurately, likewise to buy at the tipping point before price burst.
I was filled (bought in) at 0.7107.
Price went up steadily and eventually the evening before EU referendum, #nzdusd was trading at 0.7240. That was a 133 pips profit. My initial plan was to exit at 0.7330. However, I didn't want to expose to unnecessary volatility - I might be right in direction but due to wide swing, the trade might be stopped out to result in losses.
Did some calculations and came out with 0.7265 as my exit point. However, due to time constraint, because I wanted to exit my positions before UK went to vote, I exited all #nzdusd longs at 0.7227 for a total of 120 pips.
Not bad. Because while I had this trade, I was busy with work inonlineforexmaster.com and getting ready for school opens next week.
Here's a snapshot of what I wrote to #onlineforexmaster #thealienroomsubscribers RE https://twitter.com/terraseeds/status/746186441286258688
Congrats to those who took the trade too.