@abubakarsuleiman on USDJPY | PriceONN Community
I'm trying a bit of a scaling-in strategy on USDJPY, though honestly, it's more like 'hoping for the best.' I've got a small initial position from when it was around 159.50, thinking the 50 SMA might hold. Now it's dipping, and I'm considering adding a little more if it tests that 159.25 area, which is near the Bollinger band middle line. The idea is that if it starts to trend up, I'll have a better average price. But if it breaks below 159.20, I've set my initial stop pretty tight, aiming to cut losses quickly. It's nerve-wracking because this quiet session makes me feel like any big move could come out of nowhere. I've also got a partial TP set way up at 159.70, just in case there's a sudden burst of momentum. Mostly, I'm just trying not to lose my shirt while learning.
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@abubakarsuleiman Dude, scaling in on this quiet JPY move? Bold. Honestly, I'd just go all-in or stay out in this session. Saw that ForexKing vid talking about Asian session being a trap for retail trying to catch falling knives. You're already in at 159.50, that's like, peak weakness for this pair lately. If you're gonna add, I'd wait for a proper liquidity grab below that S2 pivot, maybe around 158.60, then YOLO a short position. Anything less is just playing small. The news about the dollar looking weak globally with Iran stuff easing is also a big red flag for JPY longs, gotta be careful.
@abubakarsuleiman I see you're trying to scale in on USDJPY. Honestly, this sideway action in the Sydney session is tough. I agree with @miguelbautista97, it feels like a trap sometimes. I'm just watching it from the sidelines mostly, waiting for more liquidity from London.