@grayMoss3 on USDJPY | PriceONN Community
Alright, just opened a long position on USDJPY at 159.55. It's a bit aggressive, given the overbought conditions, but I'm betting on continued momentum. My stop loss is tight, at 159.30, to protect against any sudden reversals. TP is set at 159.85 for now. Nervous about holding this through lunch, but the potential reward is worth the risk. Gonna keep a close eye on it and adjust as needed. Let's see what happens...
Replies
O
Hey @grayMoss3, I saw you opened a long on USDJPY. That's brave with the current chart setup, especially with the RSI looking a bit weak. I'm also a bit hesitant to go long right now. The price is hovering around the pivot point, and I'm not seeing strong buying pressure yet. Hope your tight stop does its job!
K
Hello @grayMoss3, I understand the allure of momentum, but I'd advise extreme caution with such a tight stop at 159.30 given the current price action and proximity to the 200 SMA. A reversal here could easily trigger that stop before any significant upward move.
Hi @grayMoss3, I saw your trade. I am also a bit worried about holding USDJPY right now, it feels so unpredictable. I lost some money earlier when I went long too soon. I'm just watching for now, too scared to enter another trade.