Trading in time for Brexit
The influence of fundamental factors is maximally enhanced during the formation of historical events.
At the moment, such a significant historical event is the planned meeting of the British Parliament on the issue of the future of Brexit.
Since this event will take place on Saturday, a day when most trading is not carried out, the market will fully feel its impact on Monday, October 21, 2019.
Moreover, this impact will extend not only to currency pairs that include the British pound, but will also affect other assets.
The main troubles that await a trader on Monday, October 21 can be a significant widening of spreads, the occurrence of slippage, the formation of price gaps, and high volatility .
1. On Friday, October 18, 2019, close existing positions, since if Monday starts with a gap, stop orders will be triggered at the first available quotes.
2. Do not use high leverage on Monday, October 21st.
3. Constantly monitor the size of the spread when opening new transactions; for these purposes you can use a special indicator - http://time-forex.com/indikators/indikator-spred
4. Do not lock positions; losses due to an increase in the spread may lead to their closure.
At the same time, you can try to make money; this moment will be the most favorable for using such strategies:
• Hep strategy - http://time-forex.com/strategy/strategiya-gep
• Correction strategy – when, after a strong trend, a price rollback begins to occur.