February 28, 2023 FX Trading Strategy "Today's Move" GoGoJiang Edition
Hello, everyone!
This is Tatsuron.
The last day of February.
The USD/JPY has been in a range, so keeping the strategy as is is OK!
Today's USD/JPY trading strategy is here.
※How to read the lines, details of indicatorsPlease refer to here.
USD 1-hour chart
USD/JPY trading strategy
Long points
① Around 136.820 yenBreak
② Around 137.421 yen Break
③ Around 135.459 yen Reversal
Break strategy
① Break near 136.820 yen with the expectation of exceeding 137 yen. At this area, there is a fairly strong resistance on the daily level, so if we break below 136.428 yen, exit.
② If you break through around 137.421 yen, it becomes stronger. A core long line aiming at 140 yen. If this level climbs to the point where the strategy is invoked, thereafter we aim for higher highs and take profits quickly.
Reversal strategy
③ Around 135.459 yen, looking for a resistance-turned-support reversal.
If it breaks below 135 yen, switch to short.
Short points
① Around 135.895 yen Break
② Break around 134.793 yen to 135.000 yen
③ Reversal around 136.428 yen to 136.820 yen
Break strategy
① Aim for a whipsaw on the break near 135.895 yen. If the rally is fast, the drop is also fast.
② The zone around 134.793 yen to 135.000 yen is a turning point in the low-to-mid 130s. If it reverses here, go long; if it breaks through, go short.
Reversal strategy
③ As described, the area around 136.428 yen to 136.820 yen is a point where short entries are likely, so take a counter-trade with 137 yen as a backdrop. High risk, high return.
Thank you again for reading today.