3 Little Pigs Post Brexit Trading 3-Jul-16

3 Little Pigs Post Brexit Trading 3-Jul-16

Hi All,

I just wanted to give an update on my 3 Little Pigs Trading Plan post the Brexit announcements.  Here is the plan I laid out last week…

From the Tuesday prior to the referendum I was out of all my 3 Little Pigs trades – Either stopped as per the strategy or by personal choice.  The exception to this was a Long AUDUSD trade.  I kept this trade open as I had a good, well in the money, stop a good distance from the current market price and I figured it would be little affected by the vote.  In the end it was affected by the vote due mostly to USD strength.  I got stopped out as per the strategy at the level I had specified.

As you are all aware, assuming you have read the 3 Little Pigs eBook I usually trade 8 Currency pairs, AUDUSD, EURGBP, EURJPY, EURUSD, GBPUSD, USDCAD, USDCHF and USDJPY.  For the next 2 weeks, at least, I will not be trading any pair with EUR or GBP in it.  So I will only be taking signals for AUDUSD, USDCAD, USDCHF and USDJPY trades.  And, I will be trading all of these at 50% of my usual risk.

Actual 3 Little Pigs Post Brexit Trading to date.

I have taken the following trades…

AUDUSD

I took an entry on 29th June and got stopped out for a 0.5% loss, remember I am on half usual stakes here at present.  On 30th June I got a re-entry with a really nice tight stop.  That trade is still open.  Pro members can view trade details on the chart below.

USDCAD

I have not had any signals for USDCAD since the referendum result so no trades.

USDCHF

There has been a signal since the referendum.  In fact there have been 2 (late entry) signals, one on the 27th June and one on the 28th June.  However, I have not yet taken a position.  The reason for this, as I stated in the Live Post Brexit Workshop is that I would take no new positions until I had first seen a pull-back to the 34 Period Simple Moving Average on the 4 Hour chart.  We have now seen that pull-back so I will now be looking to open new positions if we get a valid signal next week.  I have annotated a chart for Pro members below.

USDJPY

There was a signal the day after (hours after) the referendum which for obvious reasons was not taken.  After seeing a pullback  and signal on 30th June I took the trade and was stopped on the next candle for a 0.5% loss.  I also took the re-entry on 1st July and that trade is still open.  Pro members can view trade details on the chart below.

And here’s those charts for Pro members only…

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Hope it helps.

All comments welcome.

DISCLAIMER & COPYRIGHT

This update is based on my analysis on my charting package. It may differ to yours as it can be affected by time, market movements, charting packages and broker prices. I accept no liability for loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on any information in this report or analysis.