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Power of Two System

  • #741
  • Oct 20, 2023 3:32am Oct 20, 2023 3:32am
Quoting scotttaylor
So who here is using the 4h Momentum Filter? Or do you all trade off the Directional Bias only? Be interesting to know
I used 4h momentum filter, i hope you can share your killzones set up. i used GMT +7 and my killzone are 13h30-16h00 and 19:00- 21h30
  • #742
  • Oct 20, 2023 4:30am Oct 20, 2023 4:30am
Quoting klavi6a
This could have been a wonderful trade but ..... So, SFT to the downside, Momentum is bearish, 15m LQ sweep. Everything checked out. My SL was 4 pips and price hit my SL and went only 0.3 pips higher after that dropped like a rock to my TP. (On UC my trades are 1:2) Not sure if it was just bad luck or I missed something. {image}
Based on your own KZ timing and entry, the SL was probably just bad luck. No matter if you add another 1 or 2 more pip of cushion, such thing would still happen. For those using the original KZ timing, there would be no entry until the candle that stopped you out, which was an extended sweep of the 15min range box high and a setup for short entry.
  • #743
  • Oct 20, 2023 4:35am Oct 20, 2023 4:35am
Quoting scotttaylor
So who here is using the 4h Momentum Filter? Or do you all trade off the Directional Bias only? Be interesting to know
Using 4H momentum too. Useful filter.
  • #744
  • Edited 6:37am Oct 20, 2023 4:48am | Edited 6:37am
Quoting scotttaylor
{quote} You took the shot too soon. The internal fractal sweep occurred before London Killzone. Myself any many others in the community just banked 2:1 shorting from the external range sweep. Lovely high probability trade
Why would you bank only 2:1 shorting???
  • #745
  • Oct 20, 2023 6:13am Oct 20, 2023 6:13am
I sell EU...
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  • #746
  • Oct 20, 2023 6:50am Oct 20, 2023 6:50am
Perfect 1:3 on GU.
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  • #747
  • Oct 20, 2023 7:11am Oct 20, 2023 7:11am
Quoting hamletpro
I sell EU... {image} {image}
I just marked up the same setup. I don't have the guts to sell. After the NFT to the upside price dropped below EQ line already and with Momentum being Bullish, I will just watch from the sideline.
  • #748
  • Oct 20, 2023 9:18am Oct 20, 2023 9:18am
Quoting Landoxo
{quote} I always take the 4H Momentum Filter into consideration, I also found the trade matrix you shared on YouTube very very helpful as it makes us avoid low probability trades.
Which YouTube video so you find the matrix?
  • #749
  • Oct 20, 2023 10:20am Oct 20, 2023 10:20am
Quoting klavi6a
Perfect 1:3 on GU. {image}
I took the exact same trade, GGs.
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  • #750
  • Oct 20, 2023 10:26am Oct 20, 2023 10:26am
Quoting Gubbo89
{quote} Which YouTube video so you find the matrix?
Inserted Video

This one.
  • #751
  • Oct 20, 2023 10:50am Oct 20, 2023 10:50am
Quoting klavi6a
{quote} I just marked up the same setup. I don't have the guts to sell. After the NFT to the upside price dropped below EQ line already and with Momentum being Bullish, I will just watch from the sideline.
I took both the trades on EU and both in loss. Second one fell like a rock but reversed after 2.5R.. maybe I could have just targeted the internal fractal.
Took the setup on GU as everyone else and it was successful. Overall +1R

How much breathing room do you guys add to your trade? I use +2 pips for EU and GU. Is that enough?
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  • #752
  • Oct 20, 2023 11:11am Oct 20, 2023 11:11am
Quoting kamaltpot
{quote} I took both the trades on EU and both in loss. Second one fell like a rock but reversed after 2.5R.. maybe I could have just targeted the internal fractal. Took the setup on GU as everyone else and it was successful. Overall +1R How much breathing room do you guys add to your trade? I use +2 pips for EU and GU. Is that enough? {image} {image}
i loss EU like you. So sad
  • #753
  • Oct 20, 2023 11:12am Oct 20, 2023 11:12am
I thought for the London GU trade you guys marked - we wouldn't take this as the sweep took place outside of session?
I know it had extended sweep but I thought the sweep had to be in session as the rule?
  • #754
  • Oct 20, 2023 11:53am Oct 20, 2023 11:53am
Quoting Gubbo89
I thought for the London GU trade you guys marked - we wouldn't take this as the sweep took place outside of session? I know it had extended sweep but I thought the sweep had to be in session as the rule?
Outside KZ sweep does not invalidate your trading idea/plan. Unless that fractal that was swept was also your 15m range.
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  • #755
  • Oct 20, 2023 12:00pm Oct 20, 2023 12:00pm
Quoting kamaltpot
{quote} I took both the trades on EU and both in loss. Second one fell like a rock but reversed after 2.5R.. maybe I could have just targeted the internal fractal. Took the setup on GU as everyone else and it was successful. Overall +1R How much breathing room do you guys add to your trade? I use +2 pips for EU and GU. Is that enough? {image} {image}
As I said I only observed this setup. I was not sure if it'd work out. At the time I looked at DXY and it was bearish, and at the same time EU was DB bearish, but it was in uptrend. So, if Euro is going up, and Dollar is going down, and my DB is suggesting Mid Probability... that was not my trade. I am simply to scared of losing. Because I know my trading skills are 2 on the scale to 10.
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  • #756
  • Oct 20, 2023 4:14pm Oct 20, 2023 4:14pm
Just backtested 1st month - Feb 2022.
Pro H4 Bias only.
Not using H4 momentum filter.

6 Trades - 6 Losses.

Here's to hoping that was a bad month for the strategy!
  • #757
  • Oct 20, 2023 4:30pm Oct 20, 2023 4:30pm
Quoting Gubbo89
Just backtested 1st month - Feb 2022. Pro H4 Bias only. Not using H4 momentum filter. 6 Trades - 6 Losses. Here's to hoping that was a bad month for the strategy!
Would you mind sharing the setups with screenshots if possible?
  • #758
  • Oct 20, 2023 4:36pm Oct 20, 2023 4:36pm
Quoting hamletpro
{quote} i loss EU like you. So sad
I also took the loss on EU but I only entered during London as for me there was no valid setup in NY, but that's just how it is, not all of them will be winners, you'll have some losses along the way but the important thing is staying disciplined because with a 1:3 RR you're gonna be profitable even if you have a 30% winrate. And the backtesting results provided by Scott Taylor himself say that the strategy has an above 50% winrate so you're gonna be profitable in the long run.
  • #759
  • Oct 20, 2023 10:22pm Oct 20, 2023 10:22pm
Quoting Gubbo89
Just backtested 1st month - Feb 2022. Pro H4 Bias only. Not using H4 momentum filter. 6 Trades - 6 Losses. Here's to hoping that was a bad month for the strategy!
What pair for Feb 2022? EU? GU? UC?
  • #760
  • Oct 20, 2023 11:17pm Oct 20, 2023 11:17pm
Quoting Gubbo89
Just backtested 1st month - Feb 2022. Pro H4 Bias only. Not using H4 momentum filter. 6 Trades - 6 Losses. Here's to hoping that was a bad month for the strategy!
I've just backtest EU, almost lost. I hope that was bad cycle for the strategy
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