Is there a weakness in Winner!? Today's USD/JPY movement is...
Thank you for your hard work.
This is Nobushi.
TodayU.S. market holidayso the movement is still dull, as expected.The price action feels sluggishindeed.
In this kind of market, it’s hard to take positions, but
today a second-wave signal appeared, so I entered.
First, the 15-minute chart
First, the signal that appeared near last weekend’s close,
Clearly,it arose due to price adjustments tied to the close.
In any caseit’s better not to take positions near the close as usual.
With the opening of the forex market today, the dollar/yen started with an upward gap.
The gap was filled soon, and it moved around near last weekend’s price,
During the daythe second-wave signal on the upside lit up.
Because the U.S. market was closed, I hesitated whether to enter, but
the signals on the higher timeframe (hourly and daily) supported the long entrydirection, so
I went in.
The entry strategy is
"Place the stop near last weekend’s low; since higher timeframe supports the move, take on a bit more risk and go for it"
The stop-loss level is shown in the image.
In terms of SL price, it’s around 110.100, so even if hit, it’s about 10 pips.
On the chart, the stop looks deep, but in reality it’s quite shallow...
It might be okay to enter a bit deeper, but I’ll wait and see.
I’m still holding now, but if the holding time becomes too long, I’ll close it for now.
I’m aiming to take profit near the high just before entry.
I anticipated it from before entering, but the movement is dull and frustrating.
In such dull markets, trend-following indicators lose power,
making it hard to benefit from a trend if it extends after the second wave signal.
Even if it moves in that direction, the return would be small, and
stagnation or ranging can extend holding time and affect my mental state negatively.
We need to be careful in such markets going forward.
[Today's Summary]
・Dollar/Yen long after the second wave, holding
・Higher timeframe is bullish, so we should push
・Movement is dull due to U.S. market holiday
・In such markets, trend-following indicators like Winner lose power
・As countermeasure, avoid entering or keep holding time short
That’s all.
Winner introduction video: https://www.gogojungle.co.jp/finance/navi/15/17609
Original indicator "Winner"公開ページ： https://www.gogojungle.co.jp/tools/indicators/17623
Nobushitwitter：https://twitter.com/nobushi_fx
