jcpfx wrote:interestingly enough, even with US Thanksgiving there were some moves yesterday and today.
There will always be moves to take advantage of regardless of the conditions, & each individual's participation will be wholly dependent upon the usual criteria regularly mentioned on here:
personal risk appetite
trading style
& trading objectives.
You just need to be acutely aware that when trading & executing in generically thin liquidity levels (which also impact retail brokers to a certain degree), entry/exit & stops can be subject to abnormal slippage or subject to erratic & sometimes detrimental execution pricing.
jcpfx wrote:As far as UsdJpy is concerned, along with all other Jpy pairs, I think the daily faders have started yesterday on the Daily "doji".
Any thoughts about short opportunities arising here?
If you spot a chink in the armoury & it takes your fancy by fitting in with your set up or trigger criteria, then it really once again comes down to that same boringly repetitive equation:
your risk appetite
& your objectives.
A doji usually denotes neutrality.
Printing at an extreme price move or key prior level can help illuminate & focus price reaction potential on a zone.
Some folks would prefer to see a little bit more information before concluding a likely trade opportunity, but others might take the first drop or rise through the neutral bar formation.
We all possess different views & risk appetites & there's no right or wrong decision either way.....only the one that sits comfortable with your personal circumstances.
There's nothing to stop you taking the option of shorting through the low of that doji via a pullback or cycle sequence on the lower timeframes.
Not only will you obtain keen risk, especially if you execute via a 5 or 15min frame, but you'll also get to take advantage of any accelerated follow through if thin trading conditions encourage bargain hunters into stepping in whilst a large sector of institutional marketplace are stuffing their bellies with turkey & alcohol.
For instance, price has cycled down today on usd/jpy on the 5 min frame this morning during european trade, dropping through its local range low @ 82.17 as frankfurt & london kicked into gear.
It pulled back to the 82.35 area but failed to print a higher high.
The low of that daily doji hits 82.26.
So, as price faded off 82.35 via the micro frame pullback, you had an opportunity to short it anywhere from there through 82.26 with a stop back above the high of the pullback to test any potential follow through.
That example is a perfect scenario of marrying up a macro timeframe identification signal with a micro timeframe execution & risk deployment.
If it opens out & goes your way, you then have the option of toggling up & managing the bet via any timeframe (swing points) of your choice, dependent on your initial & ongoing objectives.
Just be aware of the conditions, stay light on your toes & ensure you have a very solid get out of jail clause in the event of it springing back against you.
You pays your money & you takes your choice!
