[10/21] Tonight's USD/JPY scalping points and methods are being released for free
This is Tomizaki from Trading Office.
[10/21 Dollar-Yen Scalping Points]
Thank you for your hard work! Let's do dollar-yen scalping again tonight!
First, the Tokyo session overview for today.
Currently, the USD/JPY is around 158.20. The pair started this morning around 158.15, but during the Tokyo session it rose to around 158.40 near the price points used for the value of the yen, but after that buying did not continue, and before 13:30 Japan time it fell to around 158.00.
USD/JPY is likely to hand over the baton to the overseas session at roughly the same level as in the morning.
Tokyo's high today is around 158.40, and the low is around 158.00.
Last night, headlines related to Middle East developments swung the market around. From the headline “US-Iran talks near agreement” to the reversal “agreement near is a mistake.” Volatility is welcome for us scalpers, but for how long will the US-Iran back-and-forth continue, I wonder…
Tonight, it seems we must discard our sense of direction and follow the chart movements.
Now, here are the points for tonight's USD/JPY scalping (my memo).
● Movements around the London market open at 16:00
● Movements around the New York market open at 22:00 (Dow opens at 22:30)
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Other notes…
・At 25:00, remarks by “ECB President Christine Lagarde”
・Be cautious of yen-softening comments from US and Japanese governments
・Watch headlines related to Middle East tensions and crude oil prices
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Tonight’s “1-minute chart scalping strategy” will focus on moves around the London and New York market openings since there are no high-profile US indicators or events scheduled. For users of the “1-minute scalping club,” follow the theory and you should be fine. Do not chase moves; follow the chart.
Also, if you’re aiming for shorts with the “15-minute scalping strategy,” wait for a little pullback and look to sell around 158.30–158.40 or below, then push it down. That’s the recent upper end of the range.
On another note,recently, Mr. Gogojan kindly visited my office from afar and interviewed me about “scalping.” I’m grateful. I spoke a little, so please take a look when you have time.
https://www.gogojungle.co.jp/finance/navi/articles/124690
Scalping tends to be assumed to offer small profit margins around the clock, but that is not the case. By aiming for periods with relatively high volatility, you can drastically reduce the difficulty of trading.
The time periods I target are around the London market open and the New York market open.
・London market open times (16:00 during US daylight saving time / 17:00 during US standard time)
・New York market open times (22:00 during US daylight saving time / 23:00 during US standard time)
Even after the release of US indicators and events, volatility increases and there are many opportunities. However, in the first few minutes after the release, the spread can widen, so the rule is to enter only after it returns to the normal spread.
Please always check the schedule of US indicators and events in advance. Knowing when opportunities will come helps you accumulate profits efficiently.
Also, absolutely avoid positioning right before US indicators and events. If you go against the trend, losses are unavoidable. Careless mistakes are not acceptable.
US indicators and events schedules can be checked on the websites of each securities or FX broker.
Of course there are other points too, but I’ve talked about the essential points to keep in mind when scalping USD/JPY.
Also…
Actually, one of my trading methods, “15-minute chart scalping,” is completely open for free. I hope it can be of some help. (Completely free.)
⇒“15-Minute Chart Scalping” scalping method explained
Also, on the following page, my main trading method, “1-minute chart scalping,” is also published, so if you’re interested please check it out. (Sorry… this one is paid.)
If you’re aiming higher, please consider it.
⇒“1-Minute Scalping” using tick charts