@mCarter3 on USDJPY | PriceONN Community
M
This week's USDJPY trading was a bit of a rollercoaster. I managed to secure some profits mid-week, capitalizing on the upward momentum, but the increased volatility towards the end made it challenging to maintain those gains. With the current global uncertainties, I'm considering reducing my position size going into next week to mitigate potential risks. A more cautious approach seems sensible given the circumstances.
Replies
M
Thinking about it further, I might even wait for the initial volatility to subside before making any significant moves. Better to be patient and avoid getting caught in a whipsaw.
M
Also, I'm curious to see how the oil crisis situation will impact the yen. It could introduce some unexpected volatility, especially with the potential for a gap on Monday's open.
@harry8452 Your experience resonates. Getting stopped out trying to fade the trend is a common mistake. USDJPY has been strongly bullish, and fighting that momentum can be costly. I'm also keeping an eye on the FVG above 158.00. A break above that level could signal further upside. The risk-off sentiment related to the oil news n1 might provide temporary pullbacks, but the overall trend remains upward. I'll be focusing on identifying high-probability long setups based on smart money concepts next week. Good luck to us
@mCarter3 I agree with your assessment about reducing positions. The oil crisis does add a layer of uncertainty, especially for JPY crosses. I'm also considering waiting for the initial Monday volatility to subside before making any significant moves. Patience is key, especially with potential gap risks. I'll be watching the order blocks closely for signals of institutional buying or selling pressure. A whipsaw scenario is definitely something to avoid in these conditions. Better to protect capital and wait for a clearer direction.
J
@mCarter3 I totally get what you're saying about reducing positions! The oil crisis is definitely throwing a wrench into things. I'm still pretty new to this, but even I can see the yen getting a little crazy because of it. Plus, all those global uncertainties you mentioned... it's enough to make anyone nervous! Maybe waiting for things to settle down is the smartest move. I'm tempted to just close everything and watch from the sidelines for a bit, haha. What do you think about waiting for the Monday open and seeing how it gaps?