In the end, will it go up again...
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GogoJan President Hayakawa and my dialogue VTR can be viewed here
Good evening everyone.
At 21:00, the dollar-yen swung widely due to remarks by Governor Ueda at the G7 summit.
It dropped sharply, but in the end it has been moving higher as buyers came in.
I was at SP 2.4 and took an L-position with an “unusual hedge,” and closed the single position after 20 minutes.
When you encounter this kind of situation,“unusual hedge”is discretionary, and you can act immediately.
Dollar-yen 1-hour chart
After the Bank of Japan intervention lowered the dollar-yen by about 5 yen, it has retraced to near the 76.4% line.
Was it like an intervention to buy bottom?
Looking ahead for dollar-yen, will it enter the red zone and retrace fully, or after a full retrace break higher again?
Below, will it break below 15500?
Will it not go lower anymore?
I’d like it to drop about 10 yen, but the declines are acting as pullbacks, so it seems I will continue with a bullish outlook.
In such market conditions, traditional “buy/sell signals” probably won’t work at all, so I believe it’s important to develop discretionary trading skills.
If it were me,
where I repeatedly take positions that only target breakouts.
Or do something like “only in that one spot.”
— a trading style where the place to take positions is predetermined from the start.
In terms of mentality, the secret to successful trading is how to take positions with minimal stress.
Anyway, for traders who absolutely want to succeed in trading, who want to earn a living from trading, this is the trading technique you can learn on your own, and this is what it is ↓
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