7/22 USDJPY, BTC market FX Plus 369
Dear readers, good morning ^^
I am Ai, the self-proclaimed number one junior disciple of 369-sensei ♪
Today as well, let's check the BTCUSD and USDJPY charts♪
【BTCUSD】
EMA Settings
Red → 20EMA
Yellow → 75EMA
Blue → 200EMA
BTC continues to show a strong bounce♪
On the H4 chart, all of 20EMA, 75EMA, and 200EMA have been broken to the upside and price is moving in the high region. Although there was a moment with a long upper wick, it has not collapsed significantly, creating a dip and maintaining buying momentum.
On the daily chart, 20EMA has clearly been broken to the upside, and RSI has recovered to around 60. 75EMA is still downward, but this is not a bad shape as an early stage of a reversal from a downtrend to an uptrend.
If it can continue to be supported by the 20EMA, there is a possibility of testing higher levels further♪
Overall market risk appetite is returning, and Bitcoin has recovered to around the mid-60s thousand dollars. The next key level to watch is around 68,000 dollars.
【USDJPY】
USDJPY is still in a very strong upward trend ♪
On the H4 chart, it continues to rise along the 20EMA, and there is no major breakdown even after reaching new highs.
On the daily chart, both the 20EMA and 75EMA are pointing upward, so the trend itself remains in progress.
RSI has risen to near 70, so in the short term there is some overbought sentiment, but in a strong trend it is not unusual for RSI to stay high.
Rather than rushing into counter-trend trades, the market favors waiting for a pullback and riding the trend ^^
“Increasing funds” rather than “winning strategy”
When you first start FX,
you think, “What method can make me win?”
Everyone thinks like this.
But if you stay in the market for a long time, you realize something.
Increasing funds does not equal winning.
It is not about “one big win in a single trade.”
Win rate is produced by the method, but
the foundation for accumulating profit is money management.
As long as you neglect money management, no matter how excellent your method, you will not achieve stable results.
Conversely, if you can apply money management, you can grow your funds even with a lower win rate.
For details, please see here ♪