Market has gone even lower, and the next BUY level @ 124.80 is insight. I would stick to that view, adding at that level.
Strategy BUY current @ 1.2530-1.2540 (if new) or if long add @ 1.2480 again. Profit taking @ 1.2887 for now.
The market is extremely oversold, and pattern seems showing indication of slightly lower levels to be seen. However, that is a buy opportunity and for value trading this is fine.
For those reading my updates only recently, please understand I trade low leverage and manage that very carefully. Do not over-trade. Sometimes people ask me, and for me majors I start 0.5x when trading this way. Then gradually I build it up.
For none-liquid pairs including commodities and metals I might start only 0.25x or 0.35x. The aim is to create value per total position. returns per total trade can vary between 3-15%.
Sir, JPY is very stubborn 😣 and tom is the major economic event boj rate decision....if boj is not explicit on jpy depreciation this pair could cross 130
peterbokma
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@surajfreak12, we have seen these markets before, and JPY is a nice one to trade. It is a difficult pair and well controlled...tc
surajfreak12
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thank you for sharing...tc
surajfreak12
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love you strategy sir ....and with years of experience I am sure it has paid off well
peterbokma
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@surajfreak12, first of all, it is something I love to do... not just the financial gain, but the challenges that one faces with markets. Everyone has a story to tell, so am sure you and everyone else will obtain experience and learn from the trades every time again... am happy to make suggestions on markets... and why not... besides I manage some funds and keeps me busy etc... how about you ? tc.
surajfreak12
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Sir I started trading recently and my main objective is to get some side income to pay for my personal expenses, but due to immature risk management have always landed up blowing my account with few trades.
surajfreak12
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and that's why look up to seniors like you who can guide me through in this journey
surajfreak12
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i have done majors in economics so have a very good understanding of the fundamentals, but technically I will suck on how to read the charts