This Market Was Full of Traps [WEEKLY REVIEW]

Weekly Review Summary

The presenter described the week as choppy and difficult to trade, especially after a large pool of buy-side liquidity was taken. Their main lesson was to avoid trading every day: use higher-time-frame context and daily candle closes to identify clearer setups, and stay patient during consolidation.

Markets and Instruments

• DXY (U.S. Dollar Index)
• EUR/USD (also called “EU”)

No other asset classes or securities were discussed.

Trading Framework

• Start with the weekly chart. Review the prior weekly candle’s close and the broader context. The presenter noted that DXY had been bullish for four weeks and that buy-side liquidity was taken the prior week, potentially setting up slower or consolidating price action.
• Use the daily chart to decide whether to trade. Assess what the prior daily candle implies for the next session. An inside bar on Friday left direction unclear, so the presenter recommended skipping Monday. Monday’s move also did not provide a clear signal.
• Wait for confirmation. Look for SMT (a divergence or signature used in the presenter’s method) and a daily close below the previous daily low before seeking a short setup. The presenter said this close can signal an expansion phase.
• Preserve the range and liquidity setup. Identify the relevant higher- and lower-time-frame ranges, fair value gaps (FVGs), and liquidity draw. If the key lower-time-frame range low is taken out, the presenter said they would skip the trade rather than engage without the intended liquidity structure.
• Use lower time frames for execution. On the 4-hour and 1-hour charts, identify key levels, paired highs, and a smaller range inside a larger one. The presenter said to use DXY as an execution reference when EUR/USD does not reach the desired premium area.
• Manage entries and risk. The presenter described a turtle-soup entry and a CSD order-block entry. For the latter, the stated approach was to wait for a candle close below a reference candle, enter on a retrace, place the stop above the high, and require SMT at that high. They also described moving to breakeven when price action and order flow support doing so.
• Avoid forcing trades. Do not chase price, overtrade, or overleverage. Wait for another daily setup if the market is consolidating.

Trades and Performance

• The presenter said their DXY idea was a dip into discount followed by a move higher. Price dipped into the area and then rallied. They said an entry below the “turtle soup” low would have reached breakeven.
• On EUR/USD, the presenter identified Thursday as the only day that met their stated daily-candle criteria.
• They took two EUR/USD entries: a turtle-soup entry and a CSD order-block entry. The trade reportedly came close to 2R but reversed, and the presenter moved to breakeven. They described it as their only setup of the week, and said it ended at breakeven.
• The presenter acknowledged that a valid losing trade was possible under the week’s conditions, while emphasizing trade management and discipline.

Key Terms, Numbers, and Cautions

• 2R was the discussed reward-to-risk target; the presenter said the trade narrowly missed it.
• DXY’s prior four weeks were described as extremely bullish.
• The presenter cautioned viewers to skip unclear sessions, be patient during consolidation, avoid chasing trades, and not overtrade or overleverage.
• The video included a PropfirmMatch sponsorship. The presenter said they used the comparison site and had obtained a $200,000 funded account with Funded Next. They recommended comparing prop-firm rules and reviews to avoid scams.
• No explicit “not financial advice” disclaimer appeared in the subtitles.

Presenter and Sources

Presenter: The OTE Trader

Sources and services mentioned: PropfirmMatch (sponsor), Funded Next, TradingView, and the presenter’s free time-frame alignment course on YouTube.