Another day, another political event and another forex market sell off. I’ve marked the Brexit bloodbath on the below GBP/USD chart for comparison, but I wanted to focus on THE WAY that price sold off. After a huge fall like this, it’s easy to just say that markets lost control within whipsawing price action, before dropping. When in reality, this couldn’t be further from what actually happened. Even in times of market panic, the selling is always done in a structured, technical manner. Let’s take a look at what I’m talking about. Having zoomed into an intraday chart, you can see just how structured the selling was. ... (full story)