【Dollar/Yen】8/19–21 +498,892 yen +357 pips 【Break Out】
This week as well, trading has progressed smoothly and we have updated profits significantly (*´ω｀*).
In August, we have finally seen an increase in entries continuing from last week.
Additionally, after entries, the upward movement was substantial, allowing a profit of 163 pips in GBP/USD in a single move.
Method used →【Brake Out Method Dominat】
Now,USD/JPY, from a technical analysis standpoint, is showing a rebound from the 30 line on the daily RSI, turning around from around 144 yen. However, moving averages remain downward-sloping, and a higher price range with heavy selling pressure is expected. In other words, a solid bottom but a heavy ceiling, indicating a range-bound, directionless movement.
Today at 23:00, the U.S. Bureau of Labor Statistics will release the annual revision of employment data. Some market observers expect that the number of employed persons created from April 2023 to March 2024 will decrease by 600,000 to 1,000,000. If there is a significant downward revision, market expectations strengthen that the Federal Reserve will cut rates by 50 basis points (0.50 percentage points) at the September meeting. In that case, USD/JPY is expected to move toward a weaker yen again, presenting a breakout opportunity.
～～～～～～～～～↓↓↓Characteristics of the method↓↓↓～～～～～～～～～
① By viewing one particular indicator from a perspective different from the conventional method, you can visually and easily spot the signs of an impending breakout. It is completely based on an original concept and is not found in any literature.
② It can be applied not only to simple ranging markets but also to trending markets, so it results in a significantly higher number of trades compared to ordinary breakout methods. It is a day-to-swing type method, yet there is a track record of approximately 75 trades in two months.
③ There is an environment-awareness method that strongly supports breakout strategies. A profitable breakout method does not simply identify a range; by performing appropriate environment awareness for the breakout method, you can prevent drawbacks and maximize advantages.
④ When you find the signs of a breakout, simply placing an original EA will automatically complete from entry to exit without watching the chart. If you think you can trade with limit orders without watching the chart, beware of breakout traps!
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Used method →【Brake Out Method Dominat】
Thank you for reading until the end.
I hope this is helpful to everyone.