In Trendtrading you always want to make sure to stay in the trend long enough, just not too long so that you give back too much of your profits.
If you misplace your stop you might end up losing more than you can handle emotionally and financially. We all have different personalities and a different psychological mindset that endure different types of pain, longevity and size of drawdown. Placing your stops according to your best liking is therefore a very important factor. If you misjudge how much you can handle, you might end up violating your trading rules. This whole topic is worth backtesting, with appropriate risk management techniques.
This 20-minute video provides an insight into shorter-term and longer-term stops to stay with a trend. There is no right way of exiting a trend, there is only your own way to do it.
Indices have retraced almost all of the Brexit losses. The FTSE was up the most this week! However, the British Pound is not doing so well. Also looking at strong moves in Gold, Silver and a possibly failed breakout in AAPL.