July 25 Trades Review TPOT

This post is 1 day late as I was a little occupied to create my blog entry. 

Trying out the additional filter I personaly put into practice to put us out of trades against main flow of USD pricing.

This is DXY direction using 4H Bias also.

Yesterday it was NFT - meaning we should look for EU and GU longs, Swissy Shorts.

Our 2 trades yesterday that hit TP were Swissy Counter FT short and GU NFT Longs which are both inline with our DXY 4H bias.

GU Long - This was NFT in 4H and NY presented a nice sweep of the low fractal before the KZ but swept during KZ. 1:3 a little bit over the 4H high, but since we are in line with DXY, the confluence is better for our trade

Swissy Short - 4H has a FT bias and I do not usually do a CT countertrend from premium to discount but this one I was more confident to take because as mentioned earlier DXY is NFT. Here we should now the proper placement of SL which is on top of a nearby fractal high above the 4H high. This saved us from an SL and eventually a TP.

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July 21 Pre London KZ TPOT Analysis

Overnight we took a GU trade during NY session and hit TP before London KZ today. This is NFT

We also took a trady on GU during LDN session yesterday and hit TP before NY yesterday. This is SFT

6R in 24 hours? Not bad yeah? Hello haters of TPOT.

So far our lesson learned of not doing and CT trades is paying off. Patience is key to always trade with the trend, SFT, FT, NFT.

For today July 21 we DO NOT have news

4H DXY -  

Why are we setting this up? I think it is a good filter based on history to follow the bias of DXY when trading EUR and GU and Swissy. Better be in line with the fundamental move right?

Dollar is gaining and SFT - meaning we as much as possible should stick with short EU, short GU, long Swissy for the moment to have higher probability.

4H EU - 

Currently it is NFT Longs are in order but not aligned with our DXY

4H GU - 

Currently also NFT where we took our long trade overnight. But as of the moment it is against DXY.

4H Swissy - 

This one I like for London session today. SFT similar with our DXY.

It's Friday! Good luck and finish this week strong!

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July 19, 2023 NY session EU Long Trade TPOT and Asia session Next Day Model trade

I took a long trade last NY session morning with EU as it was an NFT and a valid sweep on the 15min.

unfortunately it was a loss still but that's fine. -1R for the day and that is part of trading. We should know how to risk manage our losses both psychologically and financially.

A lot of people losing faith trading using TPOT but I wonder how they are getting the losses.

For me I will still continue making it as simple as possible sticking to max 2 trades per day total 1R 1% risk per day. Only GU, EU, Swissy.

On the side I am also learning the Next Day Model of the MMXM Trader and this is an even more less time consuming strategy but the fundamentals are more sound that TPOT I think since you really take the HTF Daily and Monthly and Weekly into consideration. See sample trade here for Asia.

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July 19 Pre London Status TPOT Analysis

Today's News - No News USD!

After our nice winning trade yesterday for GU NY session, we will see if we can still look to trade with winners today. So far I can only see Swissy with a valid NFT setup for the latest close of the 4H candle.

4H Swissy

We will look for longs if 15min setup shows itself

4H EU

NFT to the downside but we are already in discount. Worth to wait till 5AM 4H candle close to see the clear BIAS

4H GU

Unconfirmed to the downside but same as EU, we are already in discount and breached 4H low. We need to wait for 5AM candle also to see if SFT or NFT.

In summary, we can look for longs on Swissy later this London KZ.

Good luck everyone!

Please check my previous post about our winning GU trade last night. Cool stuff!

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Took the GBPUSD short and guess what?

This was the only setup that was present during NY session and it doesn't really fit 1:3 though SL is only 15.

There were a lot of 4H imbalance waiting to be repriced to that can support the short trade TP 1:3

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July 18, 2023 Pre NY Status TPOT

Update to 4H Bias after 5AM candle close

4H EU status

Looking really good NFT here though price is near EQ already. Hopefully we get a 1:3 still later in NY after the news comes out.

4H GU status

We are still stuck in this range of 2 fractals hi and low. The FT bearish still holds and I actually took a trade here but my 1:3 is beyond the 4H low. We will see if it works out. There are a lot of 4H BISIs there that price can reach to. It's a question of whether or not my SL will be hit first which is at 25 pips. 

Here's a screenshot of my short position.

Wide stop at the high of the 4H range that made up 25 pips in total. We will see if this works out.

4H Swissy

Pretty much unchanged from pre-London KZ. I did not see any entries SFT pro trend but some may argue that there is a counter trend SFT. Yes there was but I personally will not take counter trades anymore and besides, that trade setup swept 4H low range, so if we are strict to follow TPOT, we will wait for 4H candle close first.

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July 18, 2023 Pre London Status TPOT

For today we actually have news at start of NY session. We will still see if we get some entries for London KZ

4H GU Analysis:

We are still in FT but outside of TPOT, this seems to be a small pullback before prices goes up again as to the overall trade.

This gives us a change to find a short trade in premium following TPOT setup rules.

4H EU Analysis:

We need to wait for another 4H close to see if this is NFT or SFT. So no trades during London.

This came from an NFT the previous day as can be seen with the long wicked 4H candle.

Swissy 4H:

At the moment, the range is still tight for swissy and we can still say that it is following still the SFT from previous week. I would not take any trades to be honest, but if presented a good situation, I will go in line with SFT short.

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