T4Trade
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What is the best strategy to try here for USD/JPY, if I want to daytrade, and which indicators to install on my MT4?
Asked by Alhusain S. on 9/9/2025
2 Answers
Ammar N.10/3/2025
Ohhhhh, USD/JPY... I see you are following the news and overall market development in general
Recently jpy started to show some interesting developments, perhaps I would say that for so long time it was dull, but now with BoJ being in a rush to stimulate economy while at the same time to contain inflation as well as saving economy from aging populaton DOING smth with rates and bonds - it opens great opportunities for traders.
If you want to datrade, then the best approach I d say is classical chart patterns. However, there are numerous patterns... which ones? I d say rectangles! They have a well defined base and resistance level, a boundary is easily visibile. You can go both long and short, since it is a day trading technique. Whenver u have a legit breahout from the base, go long, and use a SL some % below the resistance... same approacj is for the short move, just inverse logic for SL setting.
As for indicators, u mean perhaps not install, but maybe choose and plot, then trendlines deserve attention. Also for trend analysis, use MA and for the strenght of the trend surely have a look at RSI...
Another attractive pattern is Flag... during intraday sessions, it might pop up time to time. However, not all the time you will have clear cut patterns, if u dont see patterns, juts wait. SIT TIGHT
Recently jpy started to show some interesting developments, perhaps I would say that for so long time it was dull, but now with BoJ being in a rush to stimulate economy while at the same time to contain inflation as well as saving economy from aging populaton DOING smth with rates and bonds - it opens great opportunities for traders.
If you want to datrade, then the best approach I d say is classical chart patterns. However, there are numerous patterns... which ones? I d say rectangles! They have a well defined base and resistance level, a boundary is easily visibile. You can go both long and short, since it is a day trading technique. Whenver u have a legit breahout from the base, go long, and use a SL some % below the resistance... same approacj is for the short move, just inverse logic for SL setting.
As for indicators, u mean perhaps not install, but maybe choose and plot, then trendlines deserve attention. Also for trend analysis, use MA and for the strenght of the trend surely have a look at RSI...
Another attractive pattern is Flag... during intraday sessions, it might pop up time to time. However, not all the time you will have clear cut patterns, if u dont see patterns, juts wait. SIT TIGHT
Furkan T.9/20/2025
Mt4 is a solid choice, exactly for forex trading. It’s possible to create your own custom indicators, but I guess this can be left for the nearest future, when you’ll become an expert. For now I recommend sticking to 2-3 trading strategies, market structure patterns and some indicators for trades confirmation if you want.
For example, reverse pullback trading, based on EMA 200 and EMA 50 lines cross out, touch of major S&R level, and as the main indicator, you can customize RSI indicator to 14 and find out when market structure min and max points( higher highs, lower lows, etc) are different.
Idk like for me, who understands the peculiarities of this strategy, it works 7/10, making it 70% win rate. So far There were no platform that near to MT4 to perform this strategy
For example, reverse pullback trading, based on EMA 200 and EMA 50 lines cross out, touch of major S&R level, and as the main indicator, you can customize RSI indicator to 14 and find out when market structure min and max points( higher highs, lower lows, etc) are different.
Idk like for me, who understands the peculiarities of this strategy, it works 7/10, making it 70% win rate. So far There were no platform that near to MT4 to perform this strategy
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