@dwalker221 on USDJPY | PriceONN Community

Hello @dwalker221, I agree completely about stop-losses being non-negotiable. It's something I had to learn the hard way, especially with pairs like USDJPY that can present sharp reversals. You mentioned its swift movement, and we're seeing that today, influenced by the escalating Middle East tensions and the crude oil surge. While the yen is weakening on paper, these external factors are creating significant volatility. I saw a quick dip to around 158.30 earlier, which was a good reminder to not chase the price. My own short attempt at 158.50 was quickly invalidated. It's crucial to let the price action confirm the direction rather than assuming based on headline news alone. For USDJPY, waiting for a decisive break above the 159.30-159.40 resistance zone, supported by the RSI not being excessively overbought, is what I'm looking for to consider a long. Conversely, a failure to hold the S1 pivot at 159.123 could signal a move lower.

Hi @dwalker221, thanks for the reminder about stop-losses! 🙏 I'm still pretty new to this and honestly, I sometimes forget to set them or I move them too much. I was looking at USDJPY earlier and it felt like it was going to go up, so I entered a long position... but then it started dropping and I got so scared I almost closed it. I wish I had a better strategy for knowing when to cut my losses. It's so hard to watch the numbers go down. What do you usually do when you see a sharp reversal like you mentioned?

Yeah @dwalker221, stop-losses are essential, especially on USDJPY. I learned that the hard way last month with a huge displacement candle that absolutely rekt me. Never again. I'm going to make sure my stops are tight next week, even if it means taking smaller wins. Better than getting wiped out, right?