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Why my GBPJPY trade idea was off target: Van-Petersen

Kay Van-Petersen
Kay Van-Petersen, global macro analyst at Saxo Capital Markets, explains his thoughts behind his long GBPJPY trade that didn’t go to plan.

Within 24 hours of the long GBPJPY trade, the move was stopped out (-1.8%) after sailing through 160.00 stop level, after being long from 163.00.

Overnight, the Guardian newspaper published a poll of 3,000 voters that showed a 52–48 split in favour of the UK leaving the EU. But Van-Petersen suspects the result of the Brexit vote on June 23 may be quite different.

You can read more about Van-Petersen’s analysis in his article here.
bombwe bombwe
Your suggested EP was 163.00. At 13:00 GMT the price reversed at a high of 162.91. So where was the damage? GBP is a dicey trade, as you rightfully say, till after the referendum. Keep up your good work.
Kay Van-Petersen Kay Van-Petersen
Thx Bombwe, appreciated. Yep agreed & if there is anything to be done options are better or play post event (if anything to be played). One can expect margins to be raised across the street as we get closer to that date, which makes sense given the event risk.


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