@NehaGupta45 on USDJPY | PriceONN Community
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It’s been a very volatile session tonight on USDJPY, and I'm really feeling the fatigue. I learned a hard lesson recently when I tried to catch a falling knife on this pair. I saw the price around 159.80 and thought, "This must be the top, it has to reverse now." I went short, feeling quite confident because the RSI was showing some bearish divergence on the M15 chart. However, my stop-loss was too tight, and the pair just kept grinding higher, eventually stopping me out for a small loss.
This experience reinforced for me the importance of patience and waiting for confirmation, especially in such a strong trend. The news about oil prices potentially pushing USDJPY higher (as mentioned in Thread B) is also something I need to respect. My mistake was not factoring in the broader macro influences sufficiently and relying too much on short-term signals. I'm now more inclined to wait for a clear break of a significant support or resistance level before committing to a trade, rather than anticipating a reversal. It’s tough to fight the trend sometimes, but it’s safer.
This experience reinforced for me the importance of patience and waiting for confirmation, especially in such a strong trend. The news about oil prices potentially pushing USDJPY higher (as mentioned in Thread B) is also something I need to respect. My mistake was not factoring in the broader macro influences sufficiently and relying too much on short-term signals. I'm now more inclined to wait for a clear break of a significant support or resistance level before committing to a trade, rather than anticipating a reversal. It’s tough to fight the trend sometimes, but it’s safer.