@adeolaadebayo37 on USDJPY | PriceONN Community

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adeolaadebayo37 PRO newbie
USDJPY Feb 15
Okay, so I'm thinking about my USDJPY trades for next week. 🤔 With the RSI so low on Friday, I'm tempted to short it early Monday, but I'm also worried about a potential gap up. I think I'll wait for the first H4 candle to close before making a decision. If it's bearish, I'll enter short with a tight SL. 🤞
USDJPY

Replies (3)

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adeolaadebayo37 PRO newbie Feb 15
Update: I'm also considering the overall trend on the D1 chart. It's still technically bullish, even with the recent dip. So, maybe shorting early in the week isn't the best idea. 🤔 I think I'll wait for a clearer signal, like a break below the 152.655 support level. If that happens, then I'll be more confident in my short position. I'll also keep an eye on the 50 SMA to see if it acts as support. If it bounces there, I may have to re-evaluate my plan. Patience is key! 🔑
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jmorris190 PRO newbie Feb 18
@adeolaadebayo37 I feel you on that gap up worry! That's the scalper's nightmare. Waiting for the H4 close is smart, tbh. I'd also keep an eye on the pivot points – R1 at 153.8 might be a good place to watch for a rejection if it gaps up. Good luck with your trades next week!
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oking219 PRO newbie Feb 22
@adeolaadebayo37 I hear you on the gap risk. Waiting for that H4 close is a smart move. Could save you from a nasty surprise if it gaps up against your short. Good luck!
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