Maybe it’s about time to have the image of a crash?
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Good morning everyone.
Yesterday's dollar/yen moved about 60 pips in range.
As Monday's moves, there wasn't much movement.
As mentioned in yesterday's article, at month-end there will be consecutive policy rate announcements from FOMC, BOE, and BOJ, so there is a possibility of one-sided movement until then.
Yesterday also climbed sharply from the low and reached this morning.
Dollar/Yen 1-hour and 1-minute charts
From the 1-hour chart, there is no change in the high range, and unless it clearly exceeds the yellow square, there is no further upside in my sense.
If it continues in this range, a rise afterward is quite possible based on the chart pattern.
If we currently interpret the present as a short-term range, today also looks like a day to pick up the dips.
All-millionaire traders, observe the reversal point marked in red circle carefully.
It is common for prices to rebound at this point in buy/sell situations.
If you input this, next time you can at least try to take a position at the same scene.
Please check the red circle location on the Millionaire Trader charts.
The red/blue squares on the 1-minute chart are the moments where the Millionaire Trader line can be drawn.
The red circle marks the point when the price formed a daily low at 16:30 and rebounded.
To take a position there, you need to anticipate the reversal on the 1-hour chart as described in the above article.
Even if you miss that, you can long at the crossing of the red/blue squares four hours later.
And as we move toward 24:00, the price that rose has dipped in the blue square zone.
Here too, expect selling opportunities at the Millionaire Trader short line.
In summary
Movement after hitting the day's high and low
Taking positions in the direction after breaking out of the range
These two are the key points, but experienced traders can establish their own viewpoints and scenarios.
For those who are not, it may be beneficial to learn price movement using Millionaire Trader's scalping charts and lines.
There are common terms like “contrarian” and “trend-following.”
Millionaire Trader's scalping supports both trend-following and contrarian trading.
But where do these trend-following and contrarian rules come from, and what are the reference points?
Is it at the moment of touching, or after touching...?
If the current trend is opposite, is everything a contrarian trade...?
There may be individual definitions, but to succeed in trading, trend-following and contrarian approaches are not opposites; first understand the mechanism and flow so you can complete opening to closing positions.
To know that, Millionaire Trader's scalping is effective and more practical to convey.
By the way, the Nikkei average has fallen about 10,000 points from its peak.
10,000 points...
It's an unprecedented bubble-like state in history, but what goes up must come down.
It's fair to say it’s being raised to drop.
Now, institutions around the world are buying and buying, so as long as this trend continues, prices will keep moving higher.
In short, unless these institutions start selling, it won't drop, but that moment will come someday.
There is a stock market adage
“What is now, still is not yet.”
“What is still, will eventually be now.”
But at what level is it now?
Any bubble will eventually burst.
Of course, since this is human-driven, there will be triggers that cause them to retreat.
When that will be...
That is the thing.
As I wrote yesterday, looking back at the past
・Emergency
・Interest rates
・Bankruptcies
These will likely become the keywords.
You may be watching on TV or online, but now the world largely moves with those elements.
If we reflect on the Lehman era, I think, who will trigger, for what purpose, and when, will be the key points when considering that time.
From the end of the Lehman bankruptcy year until year-end, if you sold with stops high in London/NY time at 100P, anyone could profit from that market.
In recent years, if you entered at low points, you could make decent profits.
Now we have long since moved past Lehman’s decline and are in a rising market, so it’s a positive market indeed.
It feels like we are at the peak deciding the direction now.
I think it’s about time to anticipate a Great Reset decline.
Support for USD/JPY in recent years has been around 140 yen.
Below that at around 126 yen, and further down around 103 yen, you can verify on the monthly Millionaire Trader chart.
Conversely, if it continues to rise, there could be unprecedented inflation leading to national living standards collapse, and it wouldn't be surprising if Japan sought aid from some country.
However, Japan is the wealthiest country in the world.
Real estate is limited, but there is plenty of “gold.”
Who manages that matters, but it’s a matter of no concern to the people.
In the end, I think the stance of strengthening self-defense capabilities and relying on one's own efforts to protect oneself is necessary.
Where is Japan headed...?
In the past, former Prime Minister Koizumi, who was famous for saying “I'll break the Liberal Democratic Party,” said things but ultimately seemed to break the Japanese people.
Was he a performer, perhaps.
I don’t know politics well, but with about 700 Diet members earning annual salaries around 50 million yen from taxpayers, what are they actually doing for us?
Public servants’ salaries rise while national income shrinks under high prices.
There are people who profit from taxpayers while others pay taxes and struggle daily.
“That’s rigged.”
That was said by Takashi Kawamura, former Nagoya mayor.
What should we do about it, I wonder ^^
Thank you for your continued support today.
For traders who want to succeed in trading and make a living from trading, the product I recommend, which you can learn on your own, is this trading technique below:
The gaps are opening slightly downward and continuing.
As you can see, it is currently in a quite high price region, so it is unclear what will happen next.
Even so, it would be wise to establish strategies and scenarios."