As the UK BREXIT fears were unleashed throughout the night, the markets responded with the shock and awe that was predicted. With price of remain already factored in, the markets had only one way to go which ever way the vote would have turned out. waking up this morning and going over to the charts was an amazing sight. Especially if you were the smart money on the sidelines. And I do hope you were.
However, to see the effect across all different markets, has shown what a connected world we live in. everything from the US SP500, OIL, The Dollar, Eur and Pound obviously. but even the cross pairs such as NZD/JPY, AUD/CAD etc. all suffered extreme volatility, and I mean extreme.
Today’s chart setups feel almost pointless, but every action creates an equal and opposite reaction. So although it feels there is nothing worthwhile, It must be more important, for today I am about to learn something that probably everyone in the industry is about to learn. We just don’t know what exactly.