Hi Tiki,
Thanks for posting the chart - as you know, I don't trade with indicators and it's easy to look back & say 'I should've done this or that' lol.
The trouble with overbought, oversold indicators that I find are that they can't be trusted. For example, scroll back on your 4 hour chart to the week beginning 26th Feb on UJ. It was very 'oversold' at just over 121 - ten days later we were below 116! On my system, I sold at just below 121 & rode it down to 116.xx - since then the yen has been bouncing all over the place & I've been caught out a few times.
I just have to trade my method - got to enter GJ & UJ tonight with big initial stop losses - bullish engulfing bar means I go long but knowing the news it'll probably reverse again lol.
Thanks for taking the time to post
By the way - UJ stopped out for minus 126 pips
Today has been as depressing as yesterday was the opposite but there we go - onto the next trade.
Kind Regards
Steve
Thanks for posting the chart - as you know, I don't trade with indicators and it's easy to look back & say 'I should've done this or that' lol.
The trouble with overbought, oversold indicators that I find are that they can't be trusted. For example, scroll back on your 4 hour chart to the week beginning 26th Feb on UJ. It was very 'oversold' at just over 121 - ten days later we were below 116! On my system, I sold at just below 121 & rode it down to 116.xx - since then the yen has been bouncing all over the place & I've been caught out a few times.
I just have to trade my method - got to enter GJ & UJ tonight with big initial stop losses - bullish engulfing bar means I go long but knowing the news it'll probably reverse again lol.
Thanks for taking the time to post
By the way - UJ stopped out for minus 126 pips
Today has been as depressing as yesterday was the opposite but there we go - onto the next trade.
Kind Regards
Steve
DislikedAnd don't forget there are a ton of JPY reports coming out tonight... I know they are on tomorrow's daily candle... but who knows how all that might pan out !!!Ignored