[Unreadable Movement…] Dollar-Yen Market Analysis by Winner
Good work everyone!
This is Nobushi.
Since the week started, work has been busy and I haven't been able to look at the charts …
The second wave has formed, but I entered late and
missed the timing,
so it feels like I’m underperforming…
Among that, EUR/CHF formed the second wave yesterday
I tried entering a little later, but unfortunatelyI hit roughly 5 pips of stop loss…
Please check my Twitter for updates.
Ah, so frustrating.
Now, regarding the USD/JPY situation
Umm, it’s moving in a way that’s hard to understand, isn’t it
In a wordit seems to be moving indecisively while waiting for some fundamental news …
If you want a fundamental analysis, there are various factors,
as a trend followermy view is
Fundamentals are just material,
and you follow along after the move
so honestly I don’t really care …
What I really want is for it to decide quickly and move in one direction.
Now, let’s first look at the current USD/JPY 15-minute chart!
Yesterday, USD/JPY showed a second-wave short signal
On the 1-hour chart, it was in an uptrend, so if you were watching the chart
you would have entered with a shallow stop and a chicken take profit
I suppose it would have resulted in a loss or breakeven
and it wouldn’t have been a good trade, no doubt!
After that, USD/JPY hastaken on a range-like appearance
The signals did not form a second wave,
and it’s been moving without a clear direction
With this kind of range, you should check what kind of range it is on the 1-hour chart.
On the 1-hour chart, you can see a rising second wave forming
With the higher timeframe showing an uptrend
If the 15-minute chart shifts to slight decline or a range,
then on the 1-hour chart it would be viewed as a pullback in an uptrend?
This is a possibility.
Of course, I cannot deny the possibility of a range before a trend reversal, so I won’t make a fixated judgment
I would consider both scenarios and follow with confidence if it moves!
On the 15-minute chart, since the latest signal is a decline, if a second wave of downward movement forms in the future
it would be a contrarian move when viewed from the 1-hour chart.
So I’ll take shallow stops and cotton-tick profits, but
Perhaps I shouldn’t have entered in the first place.
Right now, it is clearly a market of “wait.”
If you have ample funds, you could try a short, but
Personally, I’d like to go long,
so I’m hoping for the second wave of upside movement!
Wishing everyone huge profits!!
Winner introduction video:https://www.gogojungle.co.jp/finance/navi/15/17609
Original indicator “Winner” release page： https://www.gogojungle.co.jp/tools/indicators/17623
