For example, places that are easy to win are such places
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Hello everyone.
The Nikkei is falling due to the Trump situation, but the USD/JPY is rising.
If you read the articles up to yesterday, the move in USD/JPY is largely as described, so I think there was material for trading.
Now today, I would like to write about an area that is easy to win.
Whether you are discretionary, a “buy/sell signal” person, or an “EA” user, I think it’s worthwhile to know this.
First of all, an area that is easy to win is where you take a position and it becomes profitable immediately; such situations occur every day.
Today, among those, I want to share an orthodox and approachable example that I like, which both Millionaire Traders users and unconventional hedgings and all users of the Sōten EA can share—taking a position from a range breakout.
* Sōten users can enter positions in advance in either direction, so please read with that image in mind.
In my personal view, if you are aiming for a breakout trade within a day trade, I think you should look at the 1-hour range.
The reason is that the range is easy to understand.
USD/JPY 1-hour and 1-minute charts (1-minute data from yesterday 18:00 to 22:00)
The yellow □ on the left 1-hour chart shows the range, and currently the range is continuing inside the rightmost □.
After that, you can observe the price moving strongly in one direction as in the previous yellow □.
It usually ends up like this, and because it’s likely to happen again, targeting that moment is prudent.
There are two ways to target it
• Breakout
• Pullback
These two options.
Even if you get faked out, you will reach that point again, so continuing is an option, but given capital constraints you should keep failures to about two.
From such rules in the “Hundred Millionaire Trader Scalping” manual, you can learn that besides breakouts you should position after watching volume.
There’s no point in taking positions blindly; if you fail, you want material that satisfies yourself.
If a breakout fails and it doesn’t extend, you can switch to chasing volume, or for Millionaire Trader users, switch to buying/selling and look for pullbacks or pullbacks with volume to target pullbacks.
In any case, ranges are absorbing power, so there’s no reason not to aim for them.
It is currently around 15:40, and it is approaching the bottom of today’s range.
Shorting the lower boundary is fine, or trying a south-side breakout after the bottom is reached is also fine.
Alternatively, wait a bit longer, and sell on a pullback if it breaks down.
There will be about four choices, so you can pick what you want to target.
Today, if it were me, I would target the high-low breakout during Tokyo hours today.
If Sōten is active, I would place bait around that area.
Anyway, for traders who truly want to succeed in trading, who want to make a living from trading, the product I recommend is this, which you can also learn on your own:
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