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Dear SF
USDJPY is in a buying mood,158.50 is confirmed and will be reached.
There is no confirmed price downside yet. But the close below 158.50 will go to 157.90 and the close below 157.90 will go to 157.35 .the close below 15725 will go to 156.75
100% guaranteed.
———————————–
158.50 Reached.
157.90 157.35 156.75 all reached.
100% guaranteed
It looks to me like Dxy is intact as long as the 105.70-80 area holds any sell bouts. Consequently I have zero indication UsdJpy is a sell at this point. If you must, I think a good practice would be following it with sell stop entries instead of trying to be a superstar calling tops and bottoms. I think Aussie is a consistent buy overall on down drafts especially against crosses.
THIS WEEK’S MARKET-MOVING EVENTS (all days local)
France will lead off Tuesday’s first estimates for first-quarter GDP followed by Germany and Italy with flat to modestly positive results the general consensus. Eurozone results will follow close behind (11:00 local time) with 0.2 percent quarterly growth the consensus. The first estimate for harmonised Eurozone inflation will be posted at the same time as Eurozone GDP with only the most marginal improvement expected.
But Tuesday’s session will actually open in China with the official CFLP PMIs, which are expected to slow, while rounding out the day will be monthly GDP from Canada, which is also expected to slow, and the quarterly employment cost index from the US which is expected to hold steady.
Wednesday’s session will center on an expected no-action Federal Reserve meeting. Monthly US employment data are another of the week’s mainliners opening with ADP on Wednesday followed on Friday by nonfarm payrolls which are expected to rise a strong 230,000.
Econoday
April 29 (Reuters) – A look at the day ahead in Asian markets.
Asian stocks should open on Monday buoyed by Friday’s tech-led surge on Wall Street, while investors will be scrambling to make sense of the latest twist in the Japanese yen’s extraordinary helter-skelter slide against the dollar and other currencies.
fun n gaming with inflation fighter jerome
on wednesday
–
and then powell flipped to a hawkish tone muttering something about less cuts and in not exactly super clear terms has mumbled something about no cuts and in agonizingly confused linguistics suggest that a potential hike can not be off the table.
srce.: attempted futurologist Mtl JP
USDJPY Daily
In my 3 decades of experience with Yen ( my first major lost was shorting it in similar situation ) , what I see is continuous run to 162.
As long as 157 holds its ground.
And to be even more exact, I expect tomorrow another leg Up , just like on Friday – straight for the 162.
Second possibility is to see a pull back to 157 area and then within few days to hit that target.
Call me a degenerate trader ( no offence taken) but I just can’t see it any other way…yes, there is always a first time for everything, but not on Yen .
If BoJ tries to stop it right now, they are degenerate bankers….as I said : Blow of Rally, and then they step in , together with major players taking their profits.
USDJPY 4-HOUR CHART – ONLY ONE LEVEL MATTERS
Looking at this 4-hour chart, the only level that matters is 154.95
I am sure that the BpJ is looking at the same level as the one that would need to trade below to negate the latest leg up.
On the upside, it is pure guesswork with 160 the next “big figure” target.
April 26, 2024 at 4:39 pm#5303REPLY
SF Monedge
PARTICIPANT
Ahman – May I please have a 100% guarantee from you on my UsdJpy short from 157.70? Thank you in advance.
__________________________________
Dear SF
USDJPY is in a buying mood,158.50 is confirmed and will be reached.
There is no confirmed price downside yet. But the close below 158.50 will go to 157.90 and the close below 157.90 will go to 157.35 .the close below 15725 will go to 156.75
100% guaranteed.
When I was a bank trader, I became friendly with a trader who managed a forex dealing room. He related his philosophy, which I call a professional trader’s game plan that can be used by retail traders today.
A Professional Trader’s Strategy for the Retail Forex Trader</em>
USDJPY
I just got an email from the savvy trader I mentioned earlier with the following
I would suggest that the current climb will get sticky from 157 onwards
Re intervention he said
They likely will shoot across the bows 157 but the battleship will come out at 160 162 I don’t believe they have decided an exact level just yet but yes intervention likely initially by MoF then the the pension fund and finally boj hence why I say sticky from 157 up
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What is Risk Management in Trading – Forex Forum
For any trader, managing risk is essential to success. But what exactly is risk management? In this blog post, we’ll explore what risk management is and how it can help you become a successful trader.
We’ll also look at some common mistakes that traders make when it comes to managing their risks. After all, if you’re not managing risk appropriately, you’re just a gambler. So if you’re ready to learn more about risk management, read on!
What is Risk Management in Trading?
Risk management is the process of assessing, controlling, and managing risk within a trading portfolio. This involves defining trading goals and understanding potential losses that could occur as part of the trading process.
It also includes identifying potential risks, such as market volatility or sudden changes in the market, understanding how these risks can affect your profits, and taking steps to limit potential losses.
In general, risk management should be a priority for all traders. By properly managing your risks and using effective strategies, you can minimize potential losses and increase the chances of making successful trades.
Common Mistakes When Managing Risk in Trading
Unfortunately, many traders make mistakes when it comes to managing their risks. Here are some of the most common mistakes that traders make when it comes to risk management:
Not Setting a Trading Plan:
Many traders don’t have a detailed trading plan, which is a key component of risk management. Without a trading plan, traders are more likely to take risks that could have otherwise been avoided. It’s important to establish clear trading goals and a plan for how to reach those goals.
Not Understanding Risk:
Many traders fail to understand the risks associated with certain trades, which can lead to serious losses if they don’t take the time to research and understand the risks involved. It’s important to have a thorough understanding of the markets you’re trading in before taking any risks.
Not Taking Advantage of Stop Losses:
Stop losses are an essential component of risk management, as they help to limit potential losses in the event of a market downturn or sudden changes in the market. However, many traders don’t take advantage of stop losses and end up taking larger risks than necessary.
Over-Trading:
Over-trading is a common mistake made by many traders. This involves taking too many trades, which can lead to losses if the market turns against you. Look, all traders love the price action. It’s exciting to take a position and watch your P/L go up and down. But don’t become addicted to the price action for the sake of just having a position. It’s important to only take trades when the setup is right and avoid over trading.
Not Diversifying Risk:
Diversification is another important part of risk management. By diversifying your trades, you can spread out risk and limit potential losses if the market turns against you.
Why is Risk Management Important in Trading?
Risk management is a critical factor in success when trading in the markets. It involves understanding and controlling what could potentially impact your trades and actively analyzing scenarios that may occur.
Without proper risk management, traders are leaving themselves vulnerable to potential losses which could be catastrophic for their investments.
Good risk management also allows traders to effectively assess opportunities and make better decisions that take into account volatility or leading indicators of future market performance.
Simply put, risk management can provide peace of mind so traders can enjoy the highs of profitable investments while minimizing losses when markets start to dip.
What are Some Common Risk Management Strategies?
Common risk management strategies used by traders include setting stop-loss orders, limiting capital exposure, and diversifying investments to minimize volatility.
Another essential approach for traders is to set predetermined targets for both profits and losses to help stabilize your exposure. To further limit potential losses and maximize gains, traders should always be aware of economic news and other world events that might affect the market.
How to Implement Risk Management in your Trading Plan
Implementing effective risk management into your trading plan is incredibly important for successful and profitable trading. It can help you to control the amount of draws you take in any given trade, and it can also protect against large losses which could potentially wipe out your entire trading account.
A good risk management plan should include determining the amount of capital at risk on each trade, setting predetermined stop-losses to limit downside exposure, and having a strict, disciplined approach towards minimizing losses:
never increasing position size
never risking more than you are comfortable with, and always controlling potential risk-reward ratios.
Taking the time to set up a comprehensive yet flexible risk management plan will put you in a better position when it comes to positive returns in the long run.
Risk management is an important part of trading. It allows you to trade with less stress and more confidence. There are many different risk management strategies, so it is important to find one that fits your trading style.
Proper risk management can help you make money in the long run by preserving your capital and preventing you from making careless mistakes.
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