Whether you take a position or not, every answer to taking action is in the chart.
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Good morning everyone.
Yesterday, the dollar/yen during the holiday started in Tokyo with a sharp drop and retraced all the way, which was an ideal trading opportunity.
Since it jumped above 15800 over the weekend, on Monday it will dip temporarily and then what to do next?
If you have that line of thinking, you could have chased the sell-off, or taken long positions after the sharp drop.
However, the sense of this area depends greatly on experience, so for billionaire traders and all of you, it would be prudent to wait for long positions aiming at the reversal moment after the drop.
If you take a position at what appears to be a reversal moment, even if that position fails, you can place a stop loss nearby, minimizing damage.
In that sense, as always, finding the “reversal moment” is very important.
Dollar/Yen 1-hour chart & 1-minute chart
Last night during NY hours, it was essentially a range.
If you are mindful of the highs and lows of the NY session, at Tokyo start decide which way to move, if it moves, target a breakout, or after a breakout pullback using volume, you can trade in what is called “master trader scalping” to catch the initial moves after the buy/sell reversal.
As for this morning’s dollar/yen, in the first hour before today’s Tokyo open, it was in a pattern of moving lower with higher lows.
If volatility picks up and it rises, you would judge that it seems likely to break the white horizontal line upward and would chase the chart accordingly.
All of you, billionaire traders, have sell/buy reversal signals in red circles, so you can set your stop-loss at the 8 o’clock low and quickly place a preliminary long position.
After that, as you can see, it was a one-way upward move.
There was a bit of hesitation before Tokyo’s noon value, but in the end that hesitation acted as a pullback and from around 10 o’clock onward it rose, turning into a clear-volume chart.
This kind of movement repeats regardless of time.
If possible, there is a lot of money flowing in
・Right after the start of each stock market
・Immediately after US economic indicators are released
・Speeches by important figures (BOJ & Fed)
・Right after today’s highs and lows are updated
・Recent highs and lows or support/resistance
In such moments the charts move in a clear way.
Please focus on these moments and, together with reversal moments, look at the charts.
This movement has existed for many years.
The only thing that has changed is the spread has narrowed, perhaps.
The way the chart moves is the same as ever.
If you are a trader who absolutely wants to succeed in trading, who wants to make a living from trading, my product for you—also something you can learn by self-study—is this trading technique ↓
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