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2025-04-29 03:26
IndustryUsing Fibonacci to set USD/JPY stop-loss points
#CurrencyPairPrediction
Using Fibonacci to Set USD/JPY Stop-Loss Points
Traders often use Fibonacci retracement levels to identify strategic stop-loss points when trading USD/JPY. After a significant price move, Fibonacci levels (commonly 23.6%, 38.2%, 50%, 61.8%, and 78.6%) are plotted to forecast potential support and resistance areas. To set a stop-loss, traders typically place it slightly beyond a key Fibonacci level to allow for normal market fluctuations without prematurely exiting a trade. For example, in a long position, a stop-loss might be set just below the 61.8% retracement if that level is considered strong support. This method aims to balance risk control with giving the trade enough room to develop within typical market
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Using Fibonacci to set USD/JPY stop-loss points
#CurrencyPairPrediction
Using Fibonacci to Set USD/JPY Stop-Loss Points
Traders often use Fibonacci retracement levels to identify strategic stop-loss points when trading USD/JPY. After a significant price move, Fibonacci levels (commonly 23.6%, 38.2%, 50%, 61.8%, and 78.6%) are plotted to forecast potential support and resistance areas. To set a stop-loss, traders typically place it slightly beyond a key Fibonacci level to allow for normal market fluctuations without prematurely exiting a trade. For example, in a long position, a stop-loss might be set just below the 61.8% retracement if that level is considered strong support. This method aims to balance risk control with giving the trade enough room to develop within typical market
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