As I was saying, on the 4H chart, this pair is showing signs that price is slowly going up.
But price just dropped below RSI 50. I’m still not sure whether to go long or short on this pair for now. But at the moment, I’m leaning towards going short.
I’ll check out my EURUSD chart for now, just in case it has a clearer entry for me.
Hmmm. Compared to the USDJPY right now, I think this pair is more on the ranging side.
I don’t see a clear or strong trend, and it might be super risky for me to enter anytime soon.
I’ll check out the higher time frames though before finalizing my decision.
Interesting to see the double bottom on the 4H chart though. Because of this, I’m now considering if I can get in on a long position and have these as my TP.
RSi also went beyond 50 on the 4H chart.
Looks like I’d have to take back what I said about it not having any trend cause it seems like EURUSD is currently bullish on the 4H and daily charts. Before I get in though, I’ll just quickly check marketmilk here.
Hopefully it also helps me make up my mind on which pair to trade… or whether I should trade them both?
Hmmm. Looks like both the EUR and JPY are a lot stronger than the dollar right now.
But JPY is stronger between the two.
Based on this, I think both of my options (sell USDJPY and buy EURUSD) make sense.
Anyone trading these positions right now? Would definitely be reassuring to know someone’s on the same boat.
Hahaha.
Might be risky getting in on two trades at the same time But I also sold USDJPY and set my SL @ 142.942.
I’m still gonna be watching my charts for a couple of hours so I’ll just try to adjust my SLs depending on price action.
Good luck to us this weeek! I miss greeting you guys last May 4th, but may the pips be with us all!
Price is still going down for the USDJPY. I think the RSI will go below 30 soon.
I haven’t set a TP for this trade though.
your trade had the potential to be a fantastic 1:1 RR trade, but you entered a bit late unfortunately i think