Hokutosei's Practical Forex Trading－USD/JPY “The overall situation changed to selling of the US dollar.”
■Position changes and signs - May 24, 2024
The dollar is strong in the morning in Tokyo. As European time approaches, the yen weakens and the dollar weakens. From NY to London fixes, the dollar is weak. The dollar weakened at the close in NY.
The intraday balance changed to 1.0841 for buying euros, 1.2724 for buying pounds, and 104.00 for buying Aussie yen, which led to an overnight position.
DXY turned to selling, and the overall market changed to selling of the dollar.
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■Current position
5/17－BUY＠155.60
(LAST＠156.96）
Downside support-156.94 Rising confirmation points-157.02
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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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