Winner weekend verification
Thank you for your hard work.
This is Nobushi.
Last week the market was quite directionless
and it was boring, how was everyone else doing?
There were not many signals forming a second wave
Originally, at this time of year the market is like this
so it might be natural that it ends without any entries as well.
That said, it is important to know what kind of market environment we are currently in
Let’s go check the chart right away!
First, the USD/JPY 15-minute chart
After a long uptrend, a decline occurred that seemed to counter it
but it did not form a second wave
by the end of the week profit-taking buying appeared
and the signal for a top was lit up, marking the end.
I was watching for a second wave to form during the long rise, but
it extended too far and no second wave formed.
Now next is the 1-hour chart
This time, on the other hand, a selling signal was lit and closed.
In the 1-hour chart, since the selling signal lights up and then the week starts,
the outlook seems to be bearish.
However...
Sadly, on the daily chart there is still a bullish view or a range-like situation.
Therefore entering on the sell side will be limited.
Of course, if a second wave forms on the 15-minute chart, I would enter, but I should not expect large profits either haha;
Now, like this,
“If it goes up, it comes down. If it drops, it goes up.”
This is a difficult market, but if you trade recognizing it as a range, it isn’t actually that scary.
The key in such markets is...
“Take profits shallow, cut losses deep.”
That is the common saying of “dollar-cost averaging cautiously”
right?
If you kept doing this all the time, you would get badly burned when a clear trend appears, but
in a ranging market, it is very effective
it doesn’t lead to a big crash.
In other words, perhaps this is also one of the viable approaches in a range market?
Those who know will know, but
in February this year, I, Nobushi, participated in the GoGoJungle trade battle promoted by Gogojungle.
The market at that time was exactly an “if it goes up, it goes down...” market like this.
By the way, the results at that time are here (started with 1 million in the battle account)
You can see that I was steadily accumulating small gains.
Since it wasn’t a strong trending market, I changed my strategy and traded differently.
But because I could properly read the trend,
it also means I could recognize ranges.
If the market continues without direction heading into the week,
it might be worth trading in a range-market-appropriate way.
Of course, it’s also okay to stay on the sidelines until it becomes your strong suit!
In that case, quietly wait for the second wave and ride the wave calmly!
If possible, I’d like to follow the second wave when it appears confidently!
Well then, may everyone achieve enormous profits!!
Winner introduction video: https://www.gogojungle.co.jp/finance/navi/15/17609
Original indicator “Winner” public page: https://www.gogojungle.co.jp/tools/indicators/17623
