Nikkei is down 4%, Shanghai is down 2% today.
So Risk off day?
Well no need to panic. Â (I see many private investors were panicing in the broker offices… Â )
The price is still within the range bound on H4 chart (see below), touching the bottom of the range.
From this point, we have 2 options.
- Buy from the bottom of the range (Range Bound Play)
In this case, make sure to see the reversal price action on H1 or M15 charts. Â The target should be 121.20 (top of the range). - Wait for the break of the floor (119.40) and Breakout Play
In this case, the target should be WS2-WM1 (118.34-118.90)
Hope you stay calm and trade logically and systematically.
YJ Baik – Forex.Today @ Tokyo