Rebirth of the Capital Legend

Su Yi's words had just fallen.

The next moment, the voting results of the fourth constituency were also announced in a timely manner.

According to the final voting results in the fourth constituency, North Warwickshire, the number of people supporting Brexit still exceeded the number of people supporting remaining in the EU, but the difference in the specific numbers between the two was very small. The number of people supporting Brexit was only a few hundred more than the number of people supporting remaining in the EU.

"The final voting results in North Warwickshire are basically the same as the institutions' previous expectations." Seeing the latest final voting results in North Warwickshire, Frederick in the main fund trading room of Aberdeen Asset Evolution No. 1 smiled and sighed, "If the number of people supporting Brexit and those supporting Remain is always close, as more voting districts that tend to Remain are announced, the trend of the pound exchange rate will indeed be easily reversed."

At this time, the main population is concentrated in large areas.

The voting results in core urban areas such as London, Edinburgh, Leeds, Manchester, etc. have not been announced.

The voting results in these regions are the decisive force that will determine the final breakthrough direction of the pound sterling exchange rate and the final result of the referendum.

"I don't think that after the overall long chip structure in the market loosens, the bulls still have the ability to quickly reverse the market trend." Hearing the cautious and conservative words of the three people, Meng Shengfei still said firmly, "After the situation of long killing long is formed, the long-term support power of the market will become weaker and weaker. Unless the number of people in the core areas who support staying in the EU far exceeds the expectations of institutions, it is impossible for the market trend to reverse.

Based on the current trend...

Judging from the market, the number of main buy long orders is decreasing, while the number of forced stop-loss liquidation orders and active short-selling orders is increasing.

As one thing grows, the other shrinks, as the subsequent trading time goes by.

The trend of the pound sterling exchange rate will definitely become increasingly bearish.

Therefore, I think this position is still a good entry point to continue shorting, and I will also ask everyone to continue to increase short positions at this position. "

Meng Shengfei said this without waiting for the three to respond.

He quickly turned his attention to the various groups of traders in the trading room, ordering each trader to use one-fifth of the floating profit funds in their accounts to continue shorting the pound exchange rate and increase their short positions.

Just as he continued to increase his short positions.

Wall Street short-selling capital, which is the core short-selling institution in the market, also began to increase its positions on a large scale after further comprehensive assessment of the referendum results.

Among them, Citibank's foreign exchange investment department is particularly important.

Foreign exchange investment manager Enoch directly directed the trading departments of his main funds, and within a few minutes, he increased the number of short orders on the British pound exchange rate at the market price by more than 10 lots.

Along with a number of short capital institutions continuing to increase their short positions, many long capitals are also stopping losses and covering their losses.

After hovering around 1.4580 for a while, the pound sterling exchange rate fell sharply again and fell below 7 at 45:1.4500.

"In less than an hour, the price has dropped by nearly 500 points. Should I take profit?"

Seeing that the pound sterling exchange rate fell rapidly to around the 1.4500 mark, and at the same time, a large number of main buy long orders began to be taken on the market, and many profitable short orders began to be closed and profit-taking, in the Magic City, where Su Yi was located, Xu Qiao, who was in the Magic City Ultra-Short Gang's main hot money group, faced with the huge floating profit figures in his position account, raised questions.

After more than an hour, the pound sterling exchange rate continued to plummet.

The floating profit of his short-selling account on the British pound exchange rate has reached nearly 200 million US dollars.

"The trend of the pound exchange rate is falling too fast. I think I can stop profit on some of my positions first and reap some profits." Lao Zhang said, "After all, the voting results of several voting districts have just been announced, and the gap between the number of people who support Brexit and the number of people who support staying in the EU is not that big.

The voting results of more polling districts will be announced later.

I feel that the trend of the pound sterling exchange rate may fluctuate.

Moreover, based on the historical trends of the past few days, I don’t think the pound sterling exchange rate has completely broken through this position and the bulls have no power to fight back.

In fact, at this time, the main bullish institutions in the market are obviously still waiting for a better opportunity to counterattack.

It is highly likely that the pound exchange rate will rebound and rise in the future. It may continue to increase the amplitude of fluctuations and return to the 1.5000 point mark again. It is hard to say.

Sigh…I took a few roller coaster rides.

Taking all factors into consideration, I think it is a good strategy to first take some profits at the current low level, reduce the position, and then wait until the pound exchange rate rebounds to the resistance level under the rapid counterattack of the main bulls in the market before shorting. "

"Lao Zhang...have you reduced your holdings?" Xu Qiao asked.

Lao Zhang responded: "I have already reduced half of my position at around 1.4550. My pattern is not big, so I will just stop when I see a good profit. This time I can make a profit of nearly 100 million US dollars, which has far exceeded my original psychological expectations."

"Old Wu, what do you think?" Xu Qiao thought for a moment and asked again without rushing to reduce his position and cover his losses.

Old Wu thought for a moment and responded, "In fact, we can follow Mr. Su's lead. Just think about it from his perspective. At this position and at this time, has Mr. Su's Huayi Capital reduced its holdings and covered its losses?"

"I don't think so." Xu Qiao said.

"It's not that analogous." Brother Chen responded, "Based on the current market news, the short positions held by Huayi Capital, which is headed by President Su, are extremely large. This is just like stock trading. Big funds have big funds' ways of playing, and they can't just go in and out at will, but small funds are different.

I think the direction of the pound exchange rate and ultimately the referendum result.

At present, unilateral expectations have not yet been formed, which means that uncertainty is still very high.

Since unilateral expectations have not been formed, the situation of longs killing longs in the market has not led to a larger stampede, then after the pound exchange rate has fallen to this position, it is highly likely that it will still not form an extreme unilateral plunge.

According to Lao Zhang's analysis, the exchange rate trend of the pound is very likely to fluctuate repeatedly, and it will rebound and rise when a large number of short positions take profits and a large number of long positions counterattack. I think this is reliable.

Moreover, this trend has actually occurred under the influence of various news before.

Given the current trend of the pound sterling exchange rate, it is highly unlikely that it will form an extreme unilateral plunge, and it is highly likely that it will continue to fluctuate greatly.

So, at this relatively low position, reduce holdings and cover some positions to reap some profits in due course.

I think it is completely reasonable and completely correct.

After all, the voting results of four non-core voting districts have just been announced, and there are more than 300 voting districts to be announced later. No one knows what will happen next. At present, although the main bears have a certain advantage, they have not yet completed the final killing blow to the main bulls in the market. "

"Hehe...Brother Chen's analysis is spot on." Lao Zhang smiled and said, "That's what I thought."

Seeing that Brother Chen also felt that it was more reasonable to take profits on part of the positions at the right time, Xu Qiao pondered over it carefully for a moment and then executed the strategy Brother Chen mentioned. He sold off and covered half of his short positions at the pound exchange rate near 1.4520 points, pocketing half of the floating profits in the account.

And it happened almost as Brother Chen and Lao Zhang predicted.

After Xu Qiao reduced his position and covered half of his short position.

When 7:55 arrived, the voting results of the fifth constituency, the Isles of Scilly, were announced. The number of people in the voting area who supported remaining in the EU returned to a significant lead. In the entire area, the proportion of people supporting remaining in the EU reached 65%.

The pound sterling exchange rate rebounded rapidly around 1.4520.

At 7:56, in just one minute, the pound exchange rate regained the 1.4550 level.

At 7:58, the pound sterling exchange rate continued to rebound rapidly and repaired the 1.4580 point upward as a large number of short positions were closed to take profits and many long positions counterattacked.

Later, when the results of the Yell voting area were announced at 8:02, the number of people who supported remaining in the EU in its voting area also far exceeded the number of people who supported Brexit. Moreover, as an island in the Scottish region, the referendum result of Yell showed that 72% supported remaining in the EU, which was far beyond the expectations of most people.

The pound sterling exchange rate has started to rebound at an accelerated pace.

At 8:03, the pound sterling exchange rate quickly broke through the 1.4600 mark and continued to rebound upward.

At 8:10, more and more profitable short covering orders, and more and more bulls followed suit, causing the pound exchange rate to continue to rise to 1.4650 points. At this point... the pound exchange rate completed a rebound of nearly 20 points in less than 150 minutes.

Furthermore, due to the strong rebound of the pound sterling exchange rate.

The bullish sentiment that was on the verge of collapse gradually stabilized again.

Many major bullish institutions that had obviously lost confidence before, as well as bullish retail investors and hot money groups who held long positions at high levels in the market and were hesitant to exit with stop losses in time, now began to regain confidence and became positive about the subsequent expectations for the market.

This is accompanied by the recovery of bullish confidence in the market and the continued profit-covering of short positions.

At 8:17, the final voting result in Dundee, a city in the Scottish region, unexpectedly completely leaned towards supporting staying in the EU. According to the final voting results, the proportion of local people supporting staying in the EU was as high as that of Yell, reaching over 70%.

Data from several voting districts in a row leaning towards a Remain result have been released.

As a result, the number of people who supported Brexit, which was previously in the lead, fell behind the number of people who supported remaining in the EU.

And the moment when the number of people supporting staying in the EU successfully surpassed the number of people supporting leaving the EU.

That is, at 8:18, supported by these major favorable factors, the pound sterling exchange rate launched a further accelerated rebound, easily broke through the 1.4700 point and jumped to around 1.4730 points.

And this rebound trend...

It is still continuing as the bullish sentiment in the market improves and the bullish confidence increases.

It seems that, judging from the market, there is a high possibility of re-impacting the 1.5000 point mark, which will quickly strangle the large amount of capital that had previously chased the short position.

"Damn it... I won't be forced to reduce my position and stop loss at the lowest point again, right?"

Noticing that the pound exchange rate successfully rebounded above 1.4700 points, in Hong Kong, inside Tianhe Capital, Gu Chijiang, who had been forced to reduce his positions and stop losses on a large number of long positions at around 1.4550 to 1.4650 points, looked even uglier.

At this time, he was in charge of the main fund products.

The overall holding loss has been reduced significantly compared to an hour ago.

However, since he was forced to stop loss on a lot of short positions at low levels, even though the overall losses were reduced, he still felt extremely uncomfortable.

"Although the number of people who support staying in the EU has temporarily surpassed that of those who support staying in the EU, they are not ahead by much." Xie Hongxing noticed Gu Chijiang's ugly face and responded, "This shows that the uncertainty in the market is still very high. As our losses on positions are rapidly increasing, we are forced to reduce our positions and stop losses due to risk pressure. I don't think there is any problem."

Gu Chijiang frowned, sighed softly, and said, "From the perspective of controlling extreme risks and being forced to reduce positions to stop losses, it is definitely not wrong. It's just that the trend... is a bit too erratic."

"Let's wait and see." Xie Hongxing said, "Our fund doesn't have much reserve funds, and we have suffered a lot of losses due to several inappropriate operations. Even though the pound exchange rate is rebounding rapidly, and even though the market expectations and market sentiment have warmed up, it is impossible for us to continue to go long at this position.

Even if you want to continue to go long, you can only wait for a definite right-side opportunity.

Judging from the current information and market trends, I think the gap between the number of people supporting staying in the EU and the number of people supporting leaving the EU has not widened to more than 100,000.

The pound exchange rate will most likely continue to fluctuate and will be difficult to break through unilaterally.”

"Yes, we can only take advantage of the right opportunity." Gu Chijiang continued to sigh, "Several consecutive wrong operations have reduced the error tolerance rate of our fund's transactions."

"There's nothing we can do." Xie Hongxing said helplessly, "We can only hope that the main bulls in the market can take advantage of the current recovery in sentiment and the fact that the number of people who support staying in the EU temporarily exceeds the number of people who support leaving the EU, and step up their counterattack to force out the large amount of funds that just chased the short position, further stimulating the upward trend of the market."

However, as he spoke.

At 8:23, Swindon, a relatively core voting area, as well as Northamptonshire, Southampton and South Tyneside, have simultaneously announced the final referendum results.

And according to the final referendum results of these relatively core areas.

The number of people who support Brexit generally exceeds the number of people who support remaining in the EU, and the support rate for Brexit is around 62%.

The referendum results in these relatively core areas were like a blockbuster bomb, which instantly blew up countless long funds in the market and left many long-term major institutions in a trance.

Because after the voting results in these major districts.

Overall, the number of people supporting Brexit not only once again surpassed the number of people supporting remaining in the EU, but also widened the gap to more than 8.

In other words, the number of people who support Brexit has exceeded the number of people who support remaining in the EU by a full 8.

This result, in an instant, severely dealt a heavy blow to the arrogance of the bulls who had just fought back with great momentum, and also caused the confidence of the bulls in the market to collapse sharply and the confidence of the bears to reach an unprecedented high.

After that, not many people reacted.

In the blink of an eye, the pound sterling exchange rate, which had just been rebounding rapidly, came to an abrupt halt.

As if being cut in half by a sharp blade, it turned around and collapsed again in a straight line even faster than the rebound. However, in just a few tens of seconds, it broke through the previous low of 1.4520.