@babatundeoluwole58 on USDJPY | PriceONN Community
B
I've been scaling into my USDJPY positions lately, especially with this volatility. Instead of going all in at once, I'm taking smaller entries as price hits key Fibonacci retracement levels. For example, if I'm looking to go long, I'll take a quarter position at the 38.2%, another quarter at the 50%, and the final half if it holds the 61.8%. It helps manage risk on these choppy days.
Replies
Hey @babatundeoluwole58, I get what you're saying about scaling in, that makes sense to manage risk better. I'm still new to this, so the whole Fibonacci thing is kinda confusing for me. I just look at where price is at. Right now, USDJPY is bouncing around 159.28 and it feels super random. I saw it go up a bit earlier but then it just stalled. I'm scared to jump in too early or too late, you know? My last trade I FOMOed in on a green candle and got burned when it swept the lows right after. Still figuring out the best levels to enter. Any tips on what makes a level 'key' for you, aside from just the numbers?