And the answer is yes, we did get a full reversal, 360 pips in just three hours, and its move down hard again as I post this
I find it amazing that support and resistance levels are holding even against this big moves
1000 pip trading range for GBPUSD, a lot of these moves are retracing , it will be funny if we finish the day with closing prices close to their open
The stays have a slim lead with half the vote counted
Leave vote back in the lead
What a night , the leave vote is clearly going to win, and all those that are short GBPUSD will need to buy back to cash out and that will give us a big short covering rally, I am just glad I watch it from the sideline. Going to bed, the sun will still rise in the morning no mater what the Pound does
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“The time to buy is when there’s blood in the streets.” This is a well known quote by Baron Rothschild, he was referring to real estate but it sure does apply to equities and currencies. There is plenty of blood out there right now and I will be looking for buying opportunities
To but things in perspective, Here is the USDCHF 1800 pip drop from January 2015, Had you bought this after the drop you could had made 1700 pips in 5 weeks, if you were long before the drop and just held you could have gotten 95% of your money back in the same 5 weeks
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These number are since midnight eastern time, Just looking at this you would not know anything happen last night, and the GBP is not the weakest over the last 12 hours
Long term what has changed, Here is weekly look at EURUSD, we are still stuck in this range
It is all about support and resistance, here is AUDUSD 4hr chart, we came down hard and stopped right at the 200 ma, I am seeing many examples of pairs that respected support or resistance levels,
Where do you get the Strong/Weak analysis from?
he explains the whole process several times throughout the thread, especially at the start & even in a few of his videos.
Just watched one of his vids. Neat system I must say.
Thanks for the reply Dennis. I like your trading system. Just watched 3 of your YouTube videos on how you formulate your strong/weak analysis with the 200ma. Not to compare your analysis to fxcm’s app but is this something you used in the past?
You cant put your comment here either bard this is dennis thread and you need legal permission, im watching you 
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Here is my look at the markets in the aftermath of the Brexit vote, the good, the bad and the ugly
When did I become a Master Contributor and member, is there a pay raise with that title
Here is my SW rankings for end of day Friday, compared to Thursday you can see the big moves, now as big as this move is, it’s still small compared to what happen with the Swiss Franc in January 2015. Markets have a way of over reacting, so I will be looking for oversold/overbought reversals
No bottom yet for the Pound but the selling has slowed
Note; the Pound is so weak here, it could stage a month long rally and still not get out of the #8 spot, so don’t be shorting the Pound here just because it is ranked #8, look at your charts and wait for the ideal setup
