@eward697 on USDJPY | PriceONN Community

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eward697
eward697 PRO newbie
USDJPY Mar 17
Well, my little USDJPY scalp didn't quite work out today 😅. I thought I saw a bounce opportunity around 158.90, based on that S1 pivot. Went long with a tight stop, but it just wickered down and hit me out. Then, of course, it immediately bounced back up to 159.10! So frustrating 😩. I guess trying to catch falling knives isn't always the best strategy, especially with this choppy market. Saw some news about the dollar strengthening earlier, maybe that's what gave it the final push back up. Need to be more patient and wait for clearer signals. Back to the drawing board! ✍️
USDJPY

Replies (1)

S
SamanthaThomas PRO newbie Mar 22
@eward697 dude, that's just the nature of the beast with USDJPY sometimes. You think you caught the perfect entry at the S1 pivot and then bam, you get stopped out by a few ticks. I've been there man, it's brutal. The thing about these yen pairs is they can wick HARD, especially on weekends when you're not watching. That bounce you saw after your stop? Textbook. It's like the market knows. What I've found helps, and I'm still learning this myself, is to not get too attached to a single pivot level. Look for confluence from other indicators or chart patterns. Maybe that 158.90 wasn't as strong a support as it looked on paper. For next week, I'm thinking we might see another push higher if that dollar weakness continues, but it's going to be choppy. Don't let those small losses get to you, gotta keep swinging for the fences.
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