Shorted GBPJPY this morning at the close of the 5am (EST) candle. Stop placed a 24-Period above the high, with a target of the immediate hourly level shown.
Note that other GBP pairs (EURGBP & GBPUSD) printed similar candles. I chose this pair for the story behind this candle:
- Nice rejection at my weekly level
- New high since May
- Decent range
- Almost no body
- Body is very close to the low of the candle
Last two weeks I've been on vacation with limited access to the charts, but I did continue watching and placing trades whenever I had a few minutes in the room and on layovers.
Two of these trades are ongoing:
A short on USDJPY's weekly SFP
A short on NZDUSD's weekly bearish engulfing
The rest were a combo of winners and losers. Met my goal the first week, gave it all back and then some the next.
Take aways:
- Don't overtrade, always pay attention to correlated risk.
- Be more selective in the characteristics and location of your chart patterns
- Be patient.
Overall I'm very satisfied with the progress I've been making.
Note that other GBP pairs (EURGBP & GBPUSD) printed similar candles. I chose this pair for the story behind this candle:
- Nice rejection at my weekly level
- New high since May
- Decent range
- Almost no body
- Body is very close to the low of the candle
Last two weeks I've been on vacation with limited access to the charts, but I did continue watching and placing trades whenever I had a few minutes in the room and on layovers.
Two of these trades are ongoing:
A short on USDJPY's weekly SFP
A short on NZDUSD's weekly bearish engulfing
The rest were a combo of winners and losers. Met my goal the first week, gave it all back and then some the next.
Take aways:
- Don't overtrade, always pay attention to correlated risk.
- Be more selective in the characteristics and location of your chart patterns
- Be patient.
Overall I'm very satisfied with the progress I've been making.
評論:
Cut NZD short for a negligible loss. I was not confident in that setup because the engulfing didn't close far enough below the low, and the location is alright.
評論:
Typo: Stop placed above a 24 Period ATR above the high***
評論:
JK re-opened NZD.
Entry on USDJPY 109.209 (Monday open after the Weekly SFP close)