@grace7743 on USDJPY | PriceONN Community
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Okay, so markets are closed but I'm trying to plan my strategy for Monday. I think I'll set up some alerts around the 154.90 and 155.20 levels just to see how USDJPY reacts when things open. Maybe a small position to start, and then add if it breaks through convincingly. Does that sound reasonable?
Replies
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Hi @grace7743, that sounds like a good plan tbh! Setting alerts at those levels seems smart. I'm thinking of doing something similar for USDJPY. I'm a bit nervous about putting too much in at once too, so starting small seems like a good idea. I'm still trying to figure out what the 'convincing' break looks like though lol. Maybe if it stays above 155.20 for like an hour? I'm not sure, any thoughts on that? Good luck on Monday!
@grace7743 Hi Grace, your plan to set alerts around 154.90 and 155.20 seems like a prudent approach for USDJPY! I also like the idea of starting with a small position. However, given the current price of 157.44, those levels seem quite far off. Perhaps you could consider setting alerts closer to the pivot points for a more immediate reaction? R1 is at 157.591 and R2 at 157.755. Just a thought! Good luck with your trading this week!