- The Bank Trading
- Posts
- If you just waited, you'd be profitableđź’°...
If you just waited, you'd be profitableđź’°...
Throughout the last 5 years, I have received tons of trading advice from many different people. Some of it helped my trading a lot, others caused pain and detriment.
When I think back to the real advice that actually helped me bridge the gap to profitability, one quote comes to mind:
To become profitable you don’t need to win more trades, in fact you need to limit the stupid losses in between your winning trades
This quote emphasises the lack of patience traders have in waiting for good market conditions, most of you would be profitable over night if you just waited for better market conditions…
Lets take a look at a high probability expansion I called to my premium group…
Preface
DXY - H1 Timeframe
Discord Caption
I discussed the day prior that if the daily candle was likely to close like this, then we’d expecting the following day (Wednesday) to expand higher and reach for the EQHs. Price had swept Mondays low inside of a Daily BISI (HTF PD array). I was expecting the weekly to follow a Classic Expansion Profile.
The Higher Time Frame
DXY - Daily & H4 Timeframe
This is what price looked like when I woke up (just before London Session opened). We had reacted from the H4 IFVG & BISI. My initial target on price was the PDH
The Intraday Time Frames
DXY - M15 Timeframe
DXY - H1 Timeframe
We had SMT at the low which further confirmed higher prices. I wanted to see price either push higher from the M15 MB + FVG or H1 IR. I was anticipating the 7am candle (1st hour of London) to tag one of these zones and then expand higher (hourly power of 3).
DXY - M15 Timeframe
Discord Caption
Instead of tapping the FVG or IR we tagged the MB + a M15 OB and started running higher, this is when I decided to execute a Short on EURUSD. Think about hourly power of 3 here, in the first 15 minutes of the hour we reached lower and then closed bullish.
DXY - M5 Timeframe
Discord Caption
Now I’m expecting bullish order flow to hold
DXY - M5 Timeframe
Discord Caption
Check the time stamp in the top left of the TradingView image, we achieved this move within the first hour of London. Very clean move, great one to study.
MT5 Position
Took 75% here and left a runner
DXY - H1 Timeframe
DXY ended up reaching for the EQHs just before NY opened up.
Closing Thoughts
The best piece of advice I can give you is the following:
Identify what parameters/conditions are required for you to anticipate a high probability expansion (I have given mine here).
Wait for these Conditions to be met
Have a simple Entry Model
This is all that’s required….
If you’d like to receive these notes in real time + a breakdown in video format click the button down below and purchase the “Monthly Mentorship”
Use Code 10VIP at checkout for 10% off (expires on 28th June 2024 at midnight UK time)