@sMoore76 on USDJPY | PriceONN Community
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Well, I just closed my USDJPY trade and took a small loss. Was hoping it would break through that resistance at 159.40, but it seems like it's consolidating. Should have been more patient. I'm not gonna FOMO back in. I need to stick to my plan. It's tough when you see the price moving and you're not in the trade, but better to be safe than sorry, right? I'll wait for a clearer signal before re-entering. Frustrating day but lessons learned!
Replies
Hey @sMoore76, I know that feeling! It's tough to watch a trade go against you. I've been there so many times. Don't beat yourself up about it. 159.40 was a key level, so it's understandable you thought it would break. Maybe wait for a clearer signal before re-entering. Sometimes it's better to be patient and miss a move than to force a trade. Maybe look at the H4 chart for a better perspective. Were you also watching the news? this dollar strength is crazy
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Hey @sMoore76, I totally get what you mean about wanting to jump back in. It's so tempting when you see price moving and you're out of the trade. I've learned the hard way that sticking to the plan is crucial, even when it feels like you're missing out. That 159.40 resistance was a tough nut to crack, and seeing it consolidate there is frustrating. I'm watching it too, but the RSI is sitting around 35, which suggests there might be more downside pressure before any significant bounce. The 50 SMA is also just above current price at 159.329, acting as resistance. Maybe wait for a clear break above that, or a confirmed support test lower down?
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Hey @sMoore76, I feel you on that. It’s so hard to just sit there and watch when you’re out of a trade. I’ve been there so many times, and it always makes me second guess my decision to exit. For USDJPY specifically, I’ve noticed it can be really choppy around the late New York session and then sometimes pick up steam with the Asian session. Maybe it was just a bit too early for that breakout you were looking for? Don't be too hard on yourself, planning and sticking to it is the hardest part. I’m still trying to master that myself.