Hokutosei's Practical Forex Trading－USD/JPY “Change to long position”
FX
■Position changes and signs - May 17th, 2024
In the morning in Tokyo, the yen weakened across the board and the dollar strengthened. As European time approaches, the yen weakens across the board and the dollar strengthens. From NY to London fixes, the dollar is weak. At the close in New York, the dollar was weak (the yen was weak against the dollar during the day).
The daily balance was 155.60 dollar/yen buy, and we moved to an overnight position.
The Bank of Japan has left the scale of its bond purchases unchanged from the previous operation, and the yen remains weak. The dollar is weak in New York. DJIA rises above 40,000 points
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■Current position
5/17－BUY＠155.60
(LAST＠155.71）
Downside support-155.54 Rising confirmation points-155.70
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■Positioning record
5/15－SELL＠156.30
5/06－BUY＠153.40
5/01－SELL＠156.25
4/30－BUY＠156.77
4/29－SELL＠156.36
4/05－BUY＠151.63
4/04－SELL＠151.33
4/01－BUY＠151.39
3/27－SELL＠151.35
3/12－BUY＠146.90
3/05－SELL＠150.11
3/04－BUY＠150.43
2/29－SELL＠150.55
2/21－BUY＠150.16
2/20－SELL＠150.01
2/19－BUY＠150.10
2/15－SELL＠150.48
2/07－BUY＠148.03
2/06－SELL＠148.44
2/02－BUY＠146.70
1/31－SELL＠147.41
1/30－BUY＠147.60
1/29－SELL＠147.71
1/25－BUY＠147.65
1/24－SELL＠147.95
1/15－BUY＠145.11
1/12－SELL＠145.35
1/09－BUY＠144.45
1/08－SELL＠144.63
1/02－BUY＠141.50
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■Trading method
[Basic concept]
When rising, use the previous day's true range value of 0.618...
The price subtracted from the previous day's high price supports the downside.
The price added to the previous day's low price is the confirmation point for resuming the rise.
When falling, the previous day's true range value of 0.618...
The price subtracted from the previous day's high price is the confirmation point for the resumption of decline.
The price added to the previous day's low is the resistance to reversal.
[Buying and selling policy]
When rising, push the downward price support to rise confirmation point to the formation zone and take a buying stance.
At the time of a decline, move the decline restart confirmation point to the return resistance to the return formation zone and sell stance.
If there is an anti-trend movement that exceeds the reversal resistance and downside support, there will be a counter buy and sell.
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