Here is some Monday morning quater-backing. I think after the no vote , the better play might have been in and out, in and out. I stayed up for London Open but didn’t trade but it was the same with NY Open.
For me personally I don’t trade for 20 minutes after NY open, I like to see first hand what any announcements do when announced, rather than trying to analyze what may happen before. So if I were trading London I would wait for at least 20 minutes after Draghi’s speech to see the effec.
Having said that. Monday there are no announcements with any pound pairs except US and Euro, so for me I’m see where where we are at Friday NY close, then wait for Sunday and see what happens in the Sydney/Tokyo over lap, then see where the pound stands in relation to accumulation, markup, distribution and markdown. Personally I don’t think there would be serious volatility, so should be relatively easy to see what phase pair is in.
Is short I think we have to take are cue like always around what institutional traders are doing. I think we’re lucky to be able to see what Jason is doing. I think he’s as close to the institutional money as we can get. But I could be wrong, which is why the trading gods invented money management.
Gp