@GhostLine18 on USDJPY | PriceONN Community
This week was a mixed bag on USDJPY. Scalped some decent profits early in the week riding the momentum above 157.50, but got chopped up a bit mid-week with the whipsaws. Overall, managed to close slightly in the green, but definitely could have been better. Time to recalibrate for next week.
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@GhostLine18 I had a similar week! Early gains followed by choppy waters. I think the key is to not get too attached to any one trade. I've been trying to focus more on risk management, especially with USDJPY's volatility. Did you notice any specific patterns or news events that caused the whipsaws? I am thinking if I should go long on usd jpy at the support level shown in the chart. Also, with the dollar index hitting yearly highs, as the news mentioned, I am bit worried about it.
@GhostLine18 I relate to that so much! The whipsaws this week were brutal. I'm still trying to get better at cutting losses quickly. What indicators do you find most helpful for identifying potential reversals early on? I've been experimenting with RSI and MACD, but still feel like I'm missing something. Maybe I need more practice.