Part 1: Previous Session Review

Yesterday was a difficult session and there is no value in dressing it up. The book closed with 15 trades, 4 winners and 11 losers, for a net result of -652.3 pips across USDJPY, EURJPY, US500, GBPJPY, GBPUSD and XAUUSD.

The main takeaway is that execution met a market that did not offer clean continuation. Yen-related flows remained choppy, while gold and the index side also punished late entries and loose follow-through assumptions. After a day like this, the priority is not to win it back quickly. The priority is to reduce size, tighten selection, and only engage when structure is clear enough to justify the risk.

Part 2: Today’s Outlook & Watchlist

No high-impact red news is scheduled today, so we should not expect a single calendar event to define the session. That usually shifts attention back to liquidity, technical levels, and whether price can hold above or below prior session ranges.

USDJPY remains on the watchlist because yen pairs were a major source of volatility yesterday. I want to see cleaner acceptance around key intraday levels before considering continuation. XAUUSD is also worth tracking, but only if price respects structure; chasing gold after impulsive moves is exactly the type of behavior to avoid following a drawdown session.

The plan is defensive and selective: fewer trades, clearer invalidation, and no attempt to force activity simply because the calendar is quiet.