GJ DEMO 11/18/19 & Holiday Update

2019-11-19 00:49:57

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.