Price now at downward trendline and I am selling as I expect the higher Time Frame to continue buying JPY.
JPY remains as the lowest interest rate currency among the major currencies so people might be readjusting their portfolio and continuing to borrow JPY and investing that money else where.
Am I correct? I'm not sure. I'm just speaking my thoughts and I could be very far off from the truth.
Anyway, money makes the world go round. Just like petrol gives the motorbike engine fuel to burn and rotate. And the starter gives the fuel a reason to ignite.
I chose the SGD instead of GBP or other major currency so I could give myself some wiggle room for when other major pairs has some movement, I could take those pairs as well s8nce I feel that SGD is quite exotic and the economy is propped up by other countries mercy.
0836SGT 04122024
JPY remains as the lowest interest rate currency among the major currencies so people might be readjusting their portfolio and continuing to borrow JPY and investing that money else where.
Am I correct? I'm not sure. I'm just speaking my thoughts and I could be very far off from the truth.
Anyway, money makes the world go round. Just like petrol gives the motorbike engine fuel to burn and rotate. And the starter gives the fuel a reason to ignite.
I chose the SGD instead of GBP or other major currency so I could give myself some wiggle room for when other major pairs has some movement, I could take those pairs as well s8nce I feel that SGD is quite exotic and the economy is propped up by other countries mercy.
0836SGT 04122024
Note
BRUH.This is for SGDJPY, not USDJPY.
Sorry manz I was half awake when I typed that.
Anyway, i have placed the 1st sell limit at 111.613 and TP at 111.171 for 40cents SGD TP.
0927SGT 04122024
Note
Added an extra position at 111.471 TP at 110.662.
1223SGT 04122024
Note
Added another sell limit for 200. i have shifted the trendline to better reflect the trend based on the higher time frame.
4H TF -
1H TF-
1746SGT 04122024
Note
Entered on a market sell at a slightly undesirable price (slightly below the price I hoped to enter in. but its market sell right?)I keyed in 600 units. Currently I have about 11 positions opened on all three pairs.
I am trying to do a recovery. I went to the D Time Frame and price has rebounded off the major support. But theres no guarantee price would be going up. But for now, I would like to try to exit asap because price is dangling.
I have seen this situation before multiple times even before I done this DCA trading method. And even recorded some of it in this DCA logs recently. And the phenomemon is that I exited prematurely and price eventually hits my asking price. I either exited for a loss or a smaller win than I could.
There's still no guarantee that price would go in my favour this time. So, I chosen to take profit earlier by shifting all my previous TP to around 111.635.
However, my 600 units market sell? I placed the TP slightly higher. at 111.786.
I just wanna exit asap.
I haven't thought of forex much today because I was busy with english tests.
2105SGT 05122024
15 Minutes -
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.