@RyanMartinez45 on USDJPY | PriceONN Community
Sophie, honestly, I wouldn't chase entries on USDJPY right now. The price action was all over the place Friday, totally indecisive. For Monday, I'm looking to see if we get a clean break above that 159.50 resistance or a solid rejection. If it gaps up, I'm looking to fade it, maybe scalp a quick short on some initial liquidity grab.
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Yeah, that breakeven stop move is classic. I feel like I'm just asking to get stopped out when I do that. If USDJPY pushes higher on the open, I might just let it run and see if it hits the R2 pivot, then look for a short. Gotta let the market show its hand after the weekend gap.
R
@RyanMartinez45 Hey Ryan, I saw your post about waiting for a clean break. I agree, that Friday close was pretty messy. I'm also a bit worried about that gap up opening. Feels like it might be a bull trap if it happens. Still learning to spot those, but the price action feels a bit shaky right now.