Weekly report for the week of th3 1st-5th of May 2023

From the most recent weekly commentary we were still favouring bearishness on the dollar
and I was really only entertained in finding shorts on dollar and longs on EURUSD and
GBPUSD. The wee offered nice bearish expansion but the target of the weekly lows still
remain and ill still favour them going into next week. Something we outline In the weekly
commentary was the relative equal highs and to watch for a run above there this week
which we did get and this essentially set the tone for the rest of the week.
Economic calendar:
We had significant drivers all week for USD/GBP/EUR. The key ones of the week obviously
being FOMC on the Wednesday and NFP on the Friday. When we have weeks like this you
reduce expectations and exercise caution as it is highly manipulated. Remember to always
know what news events rest ahead of you, this is like watching the road as you are driving.
Some of you still fall victim to runs on stops at news events as you do not take the economic
calendar into consideration, always be aware of what days and the time of the day the news
events rest. This makes your daily power of three much easier to read. Where are you
relative to midnight open? Are you above it on an expected bearish day? Have you already
manipulated above it clearly and began expansion? All things to consider. The better and
faster you get at these mental computations over time the sharper you will become as a
trader.

Monday the 1st of May:

From the weekly commentary I stated to work within this range high the low for the DXY
and to wait for moves into premium and wait for bearish stages to trade back to the
discount of the range. Monday I always let pass, I always like to see how Monday trades
relative to the Sunday opening price and if it clear is manipulating into a PDA or run-on
stops. Monday night I told you guys to outline 102.233 as relative equal highs/buyside
liquidity. Right now we are above Sundays opening price and we have JOLTS on Tuesday at
10am NY time. That is all I use Monday for, to get a read/gauge on what price is likely to do
the remainder of the week.
Tuesday the 2nd of May:

For Tuesday the focus was the buyside liquidity pool at 102.233 and what specific time? The
time at/around JOLTS 10am NY time. If you see how Tuesday traded with midnight open
price you can see price open, and start trading higher towards the equal highs this is where
you start to gear towards shorts. Wait for a higher timeframe PDA/run on liquidity to set the
stage and then hunt your price action model to get in.
Consider the first image of the DXY. You see how we ran the highs prior to the JOLTS
economic driver? What time of day was that? The London lunch period. The London lunch
period of the forex day can be used like that of the Asian range for LOKZ. We like to see
accumulation at the lunch period and perhaps at the opening of the session, manipulation
opposing the bias and then for price to trade in our intended bias. This is the frame work a
NYOKZ trader like myself can fall back on if they are just trading one session.
Some people tried to short dollar early above the equal highs but the thing they forgot to
incorporate was time of day, even right before jolts there was a run higher however was it
coupled with displacement lower? Always wait for displacement, it makes your trading a lot
better. It feels good to catch the highs and lows of price ranges but all you need is 20-30
pips a day the rest is just bragging rights. The second image shows the EURUSD for the same
time on Tuesday. Market structure shift coupled with displacement, clear FVG + orderblock
to work off of. The target being the high of NYOKZ, could have held for the older highs but
understanding we are in 4h consolidation I’d rather go for low hanging fruit, this was
actually the low of the week… would have been great but it is only a “would of” at the time
the target was responsible and rules are rules.

Using Sundays opening price at this moment in time many of you started to favour lower for
the week and started to heavily favour short dollar and long xxxusd which is good you guys
are learning how to use Sundays open price + price action to gauge where expansion for the
week is likely to reside.

Wednesday the 3rd of May:

For this week this is where I recommended to you guys to sit away from any executions.
FOMC day is a total off limit trade day, this is the day you let the central bank play with their
currency it is not to be traded it is to be observed and to dictate bias, when you are not
trading you are always building narrative. See how choppy the price action was inside of the
kill zones? Nothing really offered. And at the FOMC events see how price is choppy? Imagine
being caught in that. Luckily for you guys I was caught in it many times in previous years
trying to trade out of ego and wising for a home run. Instead, it did a lot more damage than
any good, being caught in chop like that especially on a late news event like FOMC will have
you up all night. Going into the remainder of the week we have EUR news which is scattered
at different times of day, from previous weekly commentary’s ive told you guys to be
cautious of the days where there are many events in one session or through the day as the
power of three for the day will be hard to read. The Thursday before NFP Friday is usually
always tough. If you caught anything up to this point it is better to end the week, the only
time left for the week is post NFP after the damage is dealt on the release of the
employment numbers.

Thursday the 4th of May:

The bottom chart shows the intraday for Thursday, pure chop for the NYOKZ was not really
much offered and it’s better to stay away from this specific day before NFP as the
accumulation usually begins the day before. On the daily timeframe from the first image
however, we can see a daily FVG created which sets up a bit of direction for Friday. Without
that array there is absolutely no narrative for myself.
Friday the 5th of May:

We
had
that
clear
FVG
for
Friday. The only thing that was on the table was manipulation into that array and then
MMSM on DXY anything else would be disregarded. Notice the second image how we are
above midnight open price and there is a clear consolidation and expansion, when you see
that consolidation and then expansion without any manipulation your mind should shift to
MMXM. Where is the SMR likely to be? This case would be the daily FVG. Now if there is a
tradable distance between the initial consolidation and SMR, you can take the retracement
entries on the buy side of the MMSM to the SMR. Remember if you can see price drawing
for a clear HTF array and there is a decent distance that can be traded and you can find your
price action model it is totally viable to consider that trade. If the distance is only 10-20 pips
better to wait and hunt inside of the PDA for SMR.

The trade of the last image will be broken down in a separate video so it is focused and a
voice over will suit that more for your learning. That’s it for this weekly report. Well done to
those who passed their challenges this week and recently, once you taste that initial success
you will never settle for less. Make sure passing it is not luck and by risking the entire
account, you will probably not make it to pay out if that’s how you passed. There is no time
on the live account, you do not have to be in profit in time for every profit split date. Those
are there to make you rush, see through the challenge and how they design it for the
masses to fail and do the opposite, you are not the masses. Trust me. I get messages
everyday from people of the free content channel the ones you guys made notes on to
enter this mentorship and I am telling you most traders have absolutely no idea. If you are
feeling down always remember there is people out there trading without knowing what a
lott size is.