@grace1927 on USDJPY | PriceONN Community
Right, USDJPY plan for Monday! 🤔 I'm thinking if it opens near the weekly pivot (157.80-ish), I'll look for a short opportunity targeting the 50 SMA around 157.45. Gotta watch for fakeouts though, especially with the bullish trend. Risk management is key as always! 🔑
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Update: Just been doing some backtesting... if the price breaks above R1 (157.91) early Monday, I'll ditch the short idea and consider going long towards R2 (157.95). Still keeping my position size small though, need to see how the market reacts after the weekend. 🧐 Always good to have a backup plan! 🚀
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@grace1927 I agree with your risk management approach. Watching out for fakeouts is crucial, especially with the current low volatility. Good luck with your trade!