Harry on top-down supply and demand with one-minute sweep entries

0:00I'll basically take my setup anytime it presents. I don't care really about what time exactly it is. And you've actually got a live trade on this at the moment. So, yes, funnily, I do actually. Most traders suffer with analysis paralysis because they stare at a 1 minute chart. Our guest today focuses on doing something different. He starts his approach from the top down. So, with me just trading these two, I tend to on average get like 20 trades a month, one a day.

0:19Basically, I really mainly use a 15-minute. When you have a really small 50-minute zone, but a big move, for example, then I maybe go up a time frame to kind of mark out the range cuz Meet Harry and he's made $250,000 from prop firms in less than 2 years. In this episode, we're going to break down the exact strategy behind those amazing results.

0:36It has to be at least 3 R. So, even if it's like a perfect trade, but it can only give me 1.5 R, I may not take it. Ideally, I'm going to want to have targets on both the higher time frame and medium time frame. on both a medium time frame, maybe some internal range liquidity, weak structure, weak low, and then it's basically a perfect trade.

0:54You're going to walk away from this understanding how to build a weekly directional bias. You're then going to take that bias and understand how to refine it to an opportunity on the 4hour and 15-minute chart. We then go all the way down to a 1 minute chart purely for execution. This was actually a supply zone I was interested to look for trades from. So, I was actually wanting to look for my one minute sweep in here.

1:12price not having done that, but instead of having swept it, it's still perfectly valid as long as I I'm going to show you on the one minute in a second. If you're someone that's ever struggled to connect the higher time frame context to lower time frame entries, this is the episode that you need. In terms of trade management, are you letting these trades either go to target or to your stop loss or are you actively trading your stops?

1:30How does that work? Yeah, so I have just a clear system in that regard which helps me a lot. So what I do is at let's get into it. Welcome to the prop firm trader YouTube channel. the number one channel in the world for funded traders. Now, before we get into this incredible episode, the best way to continue to support us is make sure that you're subscribed to the channel and you like this video.

1:53That's going to help us to continue to reach the best prop firm traders and best prop firms in the game. As well as this, we also have a free Discord through Chart Fanatics where we deliver endless amounts of education and value completely for free. On top of this, we have in-depth strategy breakdowns on the Chart Fanatics YouTube channel. And of course, we have professional trader interviews on the Words of Wisdom channel. And last but not least, we have completely free trading education which is going to completely revolutionalize the space on Chart Academy.

2:23Without any further ado, let's get into this episode. What's up guys and girls? Welcome back to the Prop Firm Trader Podcast, the number one podcast in the world for funded traders. I'm Sanjief. I'm your host and I'm here to take you inside the mind and onto the charts of some of the most successful prop firm traders in the space. Now, today we're starting off with a strategy video. I want to take you behind the scenes and ripping back the curtains of a strategy that has been able to produce over $250,000 from the prop firm space.

2:50Without any further ado, I want to introduce my guest who is responsible for executing this. It is my pleasure to introduce Harry. Nice to meet you. How are you? Thank you for having me. I'm good. I'm good. Thank you. Thank you so much for being here. I know you've come a little bit of a way. Yeah, sure. But, um, no, I'm very happy to be here.

3:09I'm very, very excited for the opportunity. I appreciate it, man. Um, I want to get stuck straight in. Yeah. I want you to treat this as you are teaching me your strategy from the ground up. All right. So, we've got the whiteboard to kick things off. I want you to show me exactly what your process looks like kind of from the top down all the way down to execution.

3:28Okay. Um, as you would start each trading day. So, what does that look like for you? Where does your day start? I'll start my day obviously with with getting up. I like to make sure I get up early enough um ahead of the session before everything starts. Um just have enough time to mentally prepare to get into that into that zone. Um because otherwise it'll have negative effects on my trading day and my performance. So that's really important. Um, I like to have my coffee and just have enough time to, you know, take um take those those minutes that I need to to analyze the markets in peace before my session starts so I don't have these kind of like um FOMO feelings kicking in of of potentially want needing to enter a trade.

4:07Um, just so I'm really properly prepared um before everything gets going and I know exactly what I'm looking for. Um, for me, I found that's really important and I assume that's the case really for everybody. Um, and so yeah, then I just do my analysis. Um, at the beginning of the week, I'll do a more in-depth kind of weekly outlook. Um, because obviously, you know, you you usually have your weekly candle expectation, what you can expect from the week. Um, obviously that can change or shift during the week.

4:36But, um, generally, um, that helps a lot to just kind of like, you know, um, presume a bit what could happen this week and then go off of that. And then every morning I'll obviously update that um a bit more in the lower time frames um you know the H4 the M15 which are really for me like the key time frames. Yeah. Um for directional bias and um yeah so um in terms of like the actual strategy could we actually take one step back?

5:00So you mentioned obviously an important part of your strategy is maybe forecasting what the weekly candle is expected to look like. from what you would be looking at on the charts, what are you looking for to give you an indication that a certain market or asset class is going to go one direction or another? Okay. Okay. Sure. Um, so I like to do that mainly by I mean for it has to do obviously

5:25with the way I trade and analyze the markets which I was going to go into in a second. Um, it's it's like a supply and demand based strategy. So I'm looking mostly at the trend and the order flow to determine direction, but I'm also looking at things such as the previous week's candle. Um, obviously if we had a very bearish previous week's candle, I I'd be more bearish by if the context obviously aligns with that.

5:46um maybe assuming like a the printing of a of an upper week um and a manipulation towards the beginning of the week and then print like a high of the week um in a bearish week for example um on maybe Tuesday, Wednesday um and then see followthrough from there um because that's generally um or at least often um what the markets likes to do especially when you have like a news week um where you know you um mess around a bit first and then you get that manipulation um and then it's also just obviously as I mentioned to do with trend with the order flow.

6:19Um so obviously if we have like bearish order flow on on the weekly time frame or on the higher time frames should I say um we're maybe coming out of a a supply zone, a major higher time frame supply zone, then obviously you know um pair that and and base my bias off of that really. Okay. Could you give us maybe like a visual representation of maybe what that starts to look like?

6:36Yeah, 100%. Um so like kind of chart chart wise. Yeah, 100%. Um so okay so let's say we have maybe a um let's say we have maybe like a this is supposed to like be like a higher higher um high and then low. Okay. Um so say we maybe have like a major uh weekly supply zone up in these areas and um say for example in the prior week we had a let's say this is like a bearish candle with a pretty um decent body.

7:10Mhm. Um, and then we open the new week here. Um, then obviously as I described to you, um, I'd lean a bit more bearish, um, based off of that information, especially when the trend here with the when the higher time frame trend, um, we can say is bearish as well. Um, let's put here bearish. Mhm. um then I maybe expect something like um a bit of a you know creating like an upper wick and then seeing that follow through eventually um after like a manipulation or something um in some something along those lines.

7:36Um and um yeah, so your your analysis always starts off basically from a weekly perspective and you're looking at where things are being positioned there to determine direction for the week. Exactly. It's just really for the for the directional bias. I find it's very um very helpful. um because my strategy is very much based on um aligning the higher time frames with the with the lower time frames with the medium time frames.

8:04Um ideally my optimal trade is you know perfectly aligned on all time frames. That's like your A+ setup then basically. Got you. Um yeah. So for you higher time frame is the weekly chart kind of what we're referencing weekly and and daily and also H4 I'd say those. And then medium would be um like hourly or 15inut but for me personally it's mostly the 15 minute.

8:24And then a lower time frame that's like the one minute. the one minute one minute and where where do you go from sort of analysis down to execution? Does that happen on the one minute as well? H yeah. So the one minute is just strictly for execution. So obviously the one minute is a dangerous time frame I'd say. Um

8:43it's very noisy. Um and it is definitely also the case for me. But I I mean I think it's wrong to say I trade the one minute because that would kind of assume that I'm I'm on the one minute looking for opportunities. my my bias or my ideas are really created on the on the higher time frame and then mostly the H4 and 50 minute.

8:59Okay. And then the one minute is literally just for execution. So I'm really just once I'm within a in a 50inut zone um like a medium time frame zone that I want to execute from. Um that's literally the only time where I'll be on the one minute where I'm looking for my specific entry model. Right. Got you. Um but other than that, I never ever go to the one minute to like analyze or mark any zones or whatever.

9:17So you're already by the time you've got down to the one minute chart, you basically already have an idea of exactly what you want to be trading. You're just using that for refinement in in Exactly. Just confirmation of the idea. Again, basically seeing an form of interaction of of supply or the demand depending on the direction I'm trading. Okay. And also have my um liquidity sweep if it's not already present um with with the zone, for example.

9:42Right? If the zone hasn't swept that I'm trading from, then I'd want that extra confirmation. It's like a key. I have to have like some form of a sweep um when I enter. Okay, cool. So, let's maybe go down time frame through time frame then because this is kind of what we painted the picture of. So, we started off with the weekly and let's stick with this example which is in this analogy we've got a bearish example.

9:58So, the weekly is giving you an indication of that. If we went down from maybe a higher time frame to a medium time frame, what do you want to start seeing before you can actually start to execute? Um yeah, I I was just going to ask um um because this obviously like the weekly data is like really just for the overall direction. Um, so I I think the H4 is also it's a higher time frame technically still, but it's also a lot important. So I'd maybe go H4 and then maybe 15 and one.

10:20We could do that, you know. Perfect. All right, let's do it. Um, yeah. So um, with with that higher time frame bias um having been done, then um I I like to go to the um H4 time frame, which is obviously still a higher time frame, but it's the one that I mostly use and it's most important for the direct directional bias.

10:37So let's say we're going off of this example. Um obviously in in that weekly candle which is a a big um bearish weekly candle. It's it's like a whole weeks of price action. You could for example assume that you'd have um uh so we're using this weekly candle as like a fractal basically. Right. Which I'm going to draw here.

10:58So we could assume that it could look something like that in a perfect world. Maybe you have a sweep here. Um something like this. Right. Right. Um that's the way it kind of printed. So, this would kind of um show to me that we're having um bearish order flow on the H4 coming out of this higher time frame zone um in an ideal scenario obviously when everything's aligned um because you can see basically here zones holding here um here you just get like a sweep um here again I mean let's say there's like imbalance here which is often the case displacement whatever and then we kind of still hold that overall like um buy to sell pivot area um so let's say that kind of looks like that right um and going into the new week for example um like I said let's say just the the weekly candle opens somewhere like here a bit of retracement on a Friday um we could maybe then have a H4 zone here right so this would actually then be a point of interest on the H4 where I'd be actively interested trade interested to trade from because it's perfectly aligned with the higher time frame at this point in time we have the H4 confirmation in line with the higher time

12:00frame idea um and then I'd basically just want to wait for the median time frames to like maybe you trickle up into this zone um say Monday, Tuesday, maybe we get that pullback for example and then see that exact same thing basically as I outlined here on the medium time frame. So the 50-minute for example um which I can then go on to if you want. Well, I had one quick question. Um the zone that you pointed out here on the H4 Yeah.

12:22Um is this also a supply and demand zone exactly like

12:28we're looking? Exactly. Exactly. Yes. How how are you going about identifying your specific areas of supply and demand? Yeah. So, um, there it's it's generally pretty easy once you know how to do it. Um, it's what other people would call order blocks, I think. Um, it's just obviously there's a lot of terms thrown around in the space and I'm not really a guy that likes to engage too much in, oh, this is this or this is that.

12:44There's so many names and everything like I just call it supply and demand because that's the way I learned it. But, um, I guess other people would probably more so call it um, an order block. It's basically just um having like this either sell to buy or buy to sell price action where you then get an impulsive move, right? Um which or the kind of the top of like these structural extremes maybe you could say, right? Um but you can even get like um reactionary zones where for example I'll show Yeah, please.

13:14So say for example um we have like a demand zone here and we come into it um and we're like bearish biased um and then we react to it and fail it. Then again like you have like what I call like a flip zone here, right? Because you have the shift, the transactional shift from demand to supply being overpowered here and you've seen that reaction.

13:36So you could actually see perfectly on the chart how this demand tries to hold but then fails. Um so there's multiple ways of these zones. It could also just be a normal um structural break, structural pivot, but it's really just that sell to buy or buy to sell price action. Got you. Got you. And it it's just a it's kind of a cluster in price around where you've seen that flip from sellers to buyers, buyers to sellers.

13:55Exactly. I mean I mean usually it's just uh it's just like a candle that I mark. Right. Um but it could obviously as you say it could be like price like messing around here a bit and then eventually we commit. Then I wouldn't like mark that whole area. It's like this like final candle before the sell-off kind of thing, right? Okay. Like the pivot basically. Yeah. Okay. Got you. Got you. All right. Cool. That's clear. Yeah.

14:19So we continue with the with the medium time frame here. Let's do it. Let's do it. So, yeah. So, um going off of this example, um let's say we are now on the 50inut, which is for me personally, um which is like the mid- time frame, um time frame of my personal choice. You can also use the hourly, the 30 minute.

14:35I like to use them sometimes. Um I really mainly use the 15-minut. It's just sometimes when you for example have price action that's when you have a really small 15-minute zone but a big move for example then I maybe go up a time frame to just kind of mark out the range because what often then happens is just price kind of taps that range but never actually gets to your mitigated zone and even though everything was correct you had the idea right just because you were too refined or too specific and you know you couldn't um capitalize on the move but it's mostly the 50-minute which I'm looking at so let's just go off of this example okay and which we're talking here so we had that um H4 zone Um, so let's just assume this is that H4 zone, right?

15:10Um, we then have the 50-minute kind of trickling up into the zone, like moving correctively, maybe creating some nice uh liquidity to the downside, which we can then target as internal range liquidity. And then say we get into this zone, we see maybe a reaction to this demand zone as an example of a of a way it could play out. Um, then we kind of get that shift that that confirmation, right?

15:31So, at this point in time, we'd be like unconfirmed bearish on the 50-minute. So, we haven't actually seen supply hold yet. So, at this point in time, it's like um it's still a bit more aggressive, but you can look for sells in here. And I would, it just kind of depends on the context. Um obviously, the more confuses I have based on the higher time frame, the more I'd be then inclined to more aggressively look for those trades.

15:50But in general, if everything, let's just assume like in this example, everything's aligned. Um I'd be perfectly happy to then start looking for for um sells in this zone in this example, right? Okay. So, this is basically the new zone we have now created, right? Yep. Um and within this zone, I would then basically um want to have my confirmations on the one minute time frame. Okay. Um so my entry model basically which I'm going to which I like to use.

16:14Y and um that's what we can then go over into now if you want. Yeah, sounds good. Let's do it. Trading education is completely broken. For years, the industry has been purged and poisoned by bad actors, fake results, and strategies hidden behind pay walls. But in every industry, every once in a while becomes a catalyst, a moment in time for change. Now imagine a world where elite trading education was entirely free. Education with no hidden agenda, verified trading results, and real profitable strategies, all for free.

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18:17All right. All right. So, let's say this is the M1. So, like I said, the the M1 is really just for execution. It's not anything to do with analysis really. I'm not creating any sort of bias on the M1. It's literally just once everything has been created only in this zone because I'm looking to trade from this specific zone is when I'm going to be going to the one minute, right?

18:36And then so going off of now now saying that we're so this is now the 50-minut zone, right? The one that I've shown here. I would then want to have my entry model which is basically the same as here. It's like a flip reaction, right? I want to see basically I want to see price tap into this um 50-minute POI and then I want to see some form of an interaction with demand. Right?

18:56This could be here. This could be on this first one or it could maybe break this and then be created later on. But I'll just draw like a picture perfect example. Mhm. Um which then would be this. Right? So normally then um if the 50-minute zone would have swept liquidity already, I'd be happy to then enter right here. um in this scenario because I didn't actually have I didn't include like a sweep here.

19:15I wouldn't enter here because I don't have any sweep, right? So, how that would then look like just to fully um finalize this is um we maybe get a sweep of these highs for example, right? The the initial kind of tap in um then and then we break this low for example, get a nice body close below it or again something like a in an ideal world, right? I mean, if I'm just really showing you my perfect perfect setup, course, then um we get the sweep of this structural liquidity and this is structural liquidity because it this is a high that closed like below this low in this example, let's say with a body, right?

19:40That's what I then call that's basically the sweep I'm looking for. Then we get that reaction for example and that's then basically the zone where I'd enter from. So at this point in time, I'd then either place a limit here um where I'm putting my my stop loss then above the invalidation point which is the this high the swap liquidity. Okay. Um and then I will be aiming for so let's just um you know go to the 15 because it's it's 15 and 4hour targets.

20:09So basically with that um bearish bias, right? We could then assume maybe we could aim for this low, right? Which is like where the pullback initiated. We could aim for this low. You could also um I I I like to sometimes um take some partials if it's a large move cuz sometimes these are really large moves and they take some time to play out. Um I may just target like the the last piece of internal range liquidity for example or just the overall low.

20:34Um take partials and um yeah that's really how the the ideal trade then looks like and ideally then completely melts. Got you. Got you. So you mentioned uh especially on the the 1 minute the execution time frame you were very interested in seeing a sweep. Yeah. Um is that something that you kind of ideally want to see happen on all time frames? Um not necessarily no.

20:57Um so I mean I think it I mean technically I guess you could say it would be ideal but it's definitely not anything that I require on every time frame because if you're that specific you're I mean there's going to be like a trade a year or something, right? Um it's really just like the the higher and medium time frames are really just for the directional bias more so you could say.

21:12So we could kind of cluster them even and say that's really just mainly for direction. Yeah. Um and then when it comes to the sweep um I'm really just looking at either the 50inut um where basically the 50-minut zone swept liquidity. So um for I mean in this case it didn't do so right. But say we were to um we were to hold this zone and then create a new zone like this because then we swept this high then we have got a new zone to execute from here.

21:39Yeah. Um which then has swept liquidity which in this case going then to the one minute I wouldn't need this sweep because I the 50-minute zone has already swept. But if that hasn't swept liquidity then I'm going to want to see on the M1. So it's a a requirement that I have like it just filters out many bad trades in my opinion. Yeah. Got you. And how with this sort of strategy, how many sort of setups are you getting per day, per week, for example?

22:04Yeah, sure. Um, so I mean I I like to trade the um the Germany 40,

22:10which is the the DAX also. And um EU or just put it as Euro USD. Okay. Um those are kind of like my my go-to pairs that I currently trade. Um, obviously if you'd use more assets, you'd get more trades, but I I just found like um focusing on on less markets is just more beneficial. Um, I don't want to be a slave to the charts either. And um, aside from that, it just crowds you too much.

22:36Like you're just doing too much at that point and it'll just negatively impact your performance. So with me just trading these two, I tend to on average get like 20 trades a month, which is like five a week, one a day basically if you say five working days a week, right? Yeah. Yeah. Um that's generally roughly how it I mean it could be 15 sometimes could be 25 sometimes but it's an average I'd say of 20 a month.

22:52Yeah. Nice. Okay. So I I like to always break the the strategy side down into kind of four key components. Right. Obviously we've done the the overall analysis. Yeah. We've covered a lot of execution here and I know you've touched on a few other points but I think I I personally would want a little bit clarity on a few other parts. Right. Firstly, um you've mentioned your execution always comes ideally in some cases after a sweep.

23:19Um you'll be getting in and it's are you using always limit orders for your entries? Do you ever get in that market? Always. Um so that's actually a funny thing that you mention it because I find that there's there's obviously also that's also why I think it makes sense to focus on less markets because they have their characteristics. Right. Right. So um if you focus on those few markets you actually also along with time um going by you really notice how they have their own characteristics.

23:43DAX for example the Germany 40 is an asset where I actually mostly use market orders um in the situation where this uh flip kind of zone where this area fails right because at this point in time um I the traders have created the setup is created um so it's really just about me getting in here or here it doesn't really matter but I found that on DAX it likes to sometimes just commit so it may not come back for this right it just trickles down okay it's just more impulsive I find so on on DAX I like to use market orders doesn't mean that I never use limits, but it's like I'll definitely use way more market orders.

24:15Um, on EU kind of the same, but on you I'm definitely more often like using the limits because I just have found that it likes to come back generally. It's a bit more corrective in the way it moves. Um, but yeah, it depends like right. I'd say like maybe 80% limits on EU 20% market or 7030 and on DAX is probably more so like 60 70% market and maybe 30% 40% limits. Yeah. Okay, cool. Um and then you mentioned in terms of stop loss, your stop loss will always go above the the kind of one minute high that's been created or low effectively.

24:47Right. Exactly. Exactly. Yeah. Uh and then in terms of trade management, are you letting these trades like either go to target or to your stop loss or are you actively trailing your stops? How does that work? Yeah. So I have a just a clear system in that regard which is also which helps me a lot um psychologically.

25:05Um it's just something that kind of just gives you that peace and clarity. So what I do is at exactly 2 R I'll go to break even. So when I hit 2 R I'll put the trade break even. Um just really non-negotiable. Um there are some instances where I may do a little sooner if some other criteria met when it's a trade that's more risky. So it has less confluence as Right.

25:29At that point I may just do one R at least and then paired with maybe we have like um two structural kind of breaks on the one minute for example. If I executed on the one minute in my direction, then at that point I also may go break even if there's less confluences. But generally like for 90% of my trades, I'm just going break even at 2 hour because these are the lower quality type of trades I don't necessarily always want to be taking anyways.

25:46Right. Okay. Got you. Got you. And um you mentioned in a lot of cases you're targeting some sort of is it was like a structural level or point of liquidity or something like that. Exactly. Yeah. Yeah. Um what I don't know if you measure this or grade this in terms of R but what is your average like return that you're looking for on a trade? Um there is not a ne necessarily an average I'm looking for. Um I have like a range.

26:15So I I my minimum target or the minimum potential has to be three R that I want to have and then it could all the be all the way up to 10, right? So it could be 3 to 10. I mean 10 to be fair is pretty rare. Um it's not like it happens a lot but it can happen. Um, but I'm I I like to have technical targets because for me, for my psychology, I just found it it's the most easy way to manage trades when I'm just having technical targets because it's kind of undeniable, right?

26:42So based on my analysis, if there's, for example, like in this case, right, with everything aligned um as I outlined before, this would then obviously be like a so this where this pullback gets initiated is like a weak low, right? What I consider a weak low. So that's for me just a clean technical target. It's just undebatable basically or like this last piece of internal range liquidity.

26:59It's just undebatable. It's just something where I don't have to overthink it. I find that with the fixed R systems, I don't know, you tend to maybe get into more psychological issues cuz you maybe after a trade where it was close to hitting your R, you think, "Oh, maybe I should do four instead of five." Um, so it's it's technical targets only. And it could be anywhere from 3 to 10, but it's I'd say maybe like an average is probably like four 4.5.

27:17Okay. If you'd have to say an average. Yeah. On on the the rare occasions that you do get maybe those sort of setups that will give you like a 1 to 10. Yeah. Do you have the same approach in terms of management whereby you go to break even at 2 R and then you'll just let it go? So even if it goes to like 8 R in into profit, you'd be willing to let it come all the way back potentially if it was to happen.

27:44Yeah. Technically, yes. I mean, if I have a really strong conviction, obviously, I mean, I'm going to be real here. It's not nice if that happens. Of course, it's pretty painful. So, I think it's also something that's maybe adapted slightly throughout like the the years that I've been doing it. also due to the markets, right? The markets are dynamic. Yeah. Um I think there were more higher R trades like a few years ago. Okay. Um say maybe two years ago, but I think the markets are just generally a bit more volatile currently.

28:08Um bigger zones, bigger moves. Um which also means your stops are bigger. So yeah, I think I mean it's it's kind of rarely the case that that happens. And I I like to just make sure the that I have a target that kind of like makes a lot of sense, but ideally also is not exactly as you described in a position where it's like a 8 R and it goes to seven and then reverses. But technically, if I were like highly convinced, it could happen, but it's maybe something that happens a handful of times throughout the year and it's painful when it happens, but like it's just part of the game, right?

28:35It's strategy. So, yeah. Got you. Okay, cool. This all makes a lot of sense to me. Uh there's a couple other things uh I want to run by you. The last one in terms of what we've been discussing here is risk management. Yeah. How much are you risking per trade? Does it differ depending on asset class?

28:59How does that work for you? No, I I like to I I like to keep things simp keep things simple. Um I find that it just works best for my psychology and trading. It's just the easiest. Um so I just just keep it very simple and very straightforward. Um I have the same risk for every trade. on on both DAX and EU, I'll take the same exact risk all the time and I'll even take the same risk um depending on like setup quality, right?

29:20Um so even like for these maybe lower quality or less confluence heavy trades, I'll have the same approach, same risk. Um but I just obviously make sure I take less of them and only when maybe like the month uh the quarter allows for it, you know. Um but yeah, it's it's the same for every trade and it'll be um usually 1%. Do you want to skip the long evaluation process and get straight to funded? Because Tradeify actually gives you that option. Tradeify Futures is one of the most trusted prop firms in the industry.

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31:45The link is in the description below. Let's get back to the episode. 1%. Yeah. And does that change depending on if you're in a challenge or 100%. So that's why you know Exactly. On the funded stage, it'll be 1%. Um or if I'm splitting it into multiple accounts, I'll maybe put 0.5. Mhm. Um but on the challenge, I'm definitely doing it a bit more aggressively um just to get by a bit faster, pass them quicker.

32:07So that could be two two and a half% I may do on the challenges. Okay. Yeah. Okay. That all makes a lot of sense to me. Um, I think the only couple of things that I kind of want to know based on everything that you've shown us so far, Yeah. what sort of win rate does this give you? Like over a large sample size, based on your experience doing this, what sort of win rate are you aiming for?

32:27Yeah. Um, so I mean, ideally, I'm aiming for the highest win rate possible, of course. Of course, right. Um, but yeah, obviously with with a higher R system, it's something you have to sacrifice. Like my win rate isn't immensely high. Okay. Um, it generally ranges around 30 to 40%. Right. So that's really where it is kind of at. If we had to say an average, I'd say it's probably 35 maybe like um as an average. Yeah. Um um and then kind of this range is kind of just made up of yeah seasonality a bit and just kind of different phases.

32:57You have better periods, you have worse periods. Um it may some months it's maybe just 20 25 then it could be 50 in a good month. So um yeah, but I think like that's a good range and 35 is a good average. Okay, nice. Um, last thing I want to do on the whiteboard before we maybe jump into some real charts and see this in in action is could you maybe give me like a little bit of a checklist kind of from A to Zed?

33:21What would be a perfect setup that kind of has to tick the boxes for you for you to be able to go from kind of analysis all the way through to entry? Yeah. Yeah, sure. Um, all right. So, um, first of all, it would obviously have to be in session,

33:36right? So, that's like the first kind of thing. So, in session for you is what? London, New York. What do you say? It's both. It's both. Yeah, it's both London and New York. Um, since with the way I trade, I don't have so many setups. Um, I just found that it makes the most sense to cover both sessions. I'll basically take my setup anytime it presents. I don't care really about what time exactly it is.

33:53I'm not too heavy on the timing, but it has to be like within those times of London and um and New York, right? And then I cap it at like two hours after New York because eventually you just have to get off, right? Y um so we could maybe say um you know like this and then check. Yeah. Yeah. All right. So it would have to be in session, right?

34:18Um that's the first thing. Um then the second thing is um when we now go to the chart basically to the chart side of things um ideally in a perfect world um as you said we're looking for the perfect trade. Um we have the higher time frame. Mhm. um medium time frame both perfectly aligned. Yeah. Um in the sense that they are directionally aligned. So we have both trend and orderflow bearish. Um so I can maybe put trend and orderflow aligned like this. Okay. Um we have that on like both directional kind of time frames perfectly aligned on both time frames.

35:02In a bearish trade for example we have supply in control and we have a bearish trend on both time frames. Um then another thing for the directional um bias which is ideal in a perfect scenario is we also have the alignment of the prior daily and prior weekly candle for example. So ideally we have a we have maybe taken out the previous day's low already or we have a um prior bearish day and prior bearish week basically. So therefore I can expect a more more bearish bias.

35:30Right. Right. Um so we can say maybe candle profiling um candle profiling um check. Yeah. Um then when it gets to more so the execution side of things um I have a um good point of interest. Mhm. Um so this is basically the zone that I'm trading from. So um there's also different qualities in terms of them.

35:56Right? So ideally I'm going to want to trade from a point of interest that is um of good quality. Okay, which means it's like a flip zone for example, so I can see that transactional shift or it's a zone that swept liquidity. So I'll maybe put um you know liquidity POI or what I like to call a flip zone. It's just like a transactional um kind of just a zone where you can see the transaction between supply and demand kind of then overpower. Right.

36:25I think you gave us a little demonstration of that. Exactly. Exactly. Yeah. I just thought I'll explain it. Yeah. No, that's good. That's good. Um so yeah, those would be like the ideal ways or it could be just one that you know just broke structure clearly with a with a break. Um so yeah so we have that a good point of interest and um then in terms of the execution obviously um what I then want is a liquidity sweep if that's not present already that's absolutely key um so we have a liquidity sweep um and yeah then we're basically good to go I think um that's really all I'm looking for everything's aligned and maybe for the for the um um for the targets right that's another good thing I could put here at the very um could have been a bit before but it doesn't really matter.

37:05Um it's it's targets, right? So what I mean by that specifically is that ideally I'm going to want to have targets on both the higher time frame and medium time frame. So on both the medium time frame maybe some internal range liquidity weak structure week low and the same on the higher time frame because it's it's always nice to trade in the direction of the higher time frame when you also have a kind of drawn liquidity on the higher time frame, right?

37:32So an actual like weak high week low. So ideally we have that on both time frames. Um, and then it's basically a perfect trade. Yeah. Okay, cool. Um, last thing before we get into some real charts because I'm looking forward to seeing what this actually looks like. Sure. Um, is there anything that will stop you from trading this? Like is there a specific context of market conditions or do you not trade news?

37:51Um, is there a specific, you may have touched on this already, but like specific requirement when it comes to risk-to-reward that you're looking for that if those one of those things were there, you would say, you know what, regardless even of these things, I'm not going to trade that. Yeah. I mean there's a few things I'm not sure just put them on the side or anything.

38:07So a few things that maybe aside from that if we're being very specific that could sometimes obviously occur. Yeah. And that's obviously like the minimum R potential as I said before. Um it has to be at least 3 R. So even if it's like a perfect trade but it can only give me 1.5 R based on a technical target. I may not take it. Okay. Um and if I do so then I actually like extend my target to 3R, right?

38:30um if it's a really great trade, I'd probably still take it and then just kind of um you know aim for the 3R instead of the technical target in that case. But there may be some instances on less confluence trades where due to that may then not enter. So that could be an example. Um then uh another scenario which you obviously just mentioned is news. With the news in general um the way I like to do it is there's obviously the major ones, right?

38:52So you have CPI is a major one, NFP is a major one and then what was the other? FOMC. Mhm. Um FOMC. Those are like the three major ones where with those I ideally don't prefer to trade ahead of the release, but I have like a strict rule where I say, okay, like 3 hours before maximum, I'll get involved. But in general, it's it's rarely the case, right?

39:17Um it's also often the price action before is just choppy. So often there's just also no opportunities. But even if there were like a really good trade before, I may get involved, but it has to be like more than 3 hours before. And I also may actually manage it or close it before if it hasn't like moved away. Um and then the only other thing is like potentially bank holidays, right? Okay. So, we haven't uh touched on that yet. Bank holidays could also be an instance um where I wouldn't enter.

39:41Um I'd say that I generally still especially for the good trades for like your A tier, your A+ type of trades, I'll still take them on bank holidays as long as it's not bank holiday on obviously like Christmas or you know and where you have like the whole world basically. But if it's just say um UK or or um or Europe bank holiday or just USA then in the London session if there's a really good trade I'll probably still take it but obviously in rare instances.

40:02Yeah. Okay. Nice. Um I think this was awesome. Yeah. I I think you've covered everything at least from the questions that came to my mind. Um I would love to jump on to some real charts and to see all of this theory in action. Sure. Sure. 100%. Sure. Okay. Cool. Let's do that. Sure. Sure. Sure. All right. So we are back on some actual charts now. Um we're

40:27gonna start off by talking us through an example of a trade that you've taken and we're starting off on DAX, right? Yes, we're starting off on DAX. Exactly. Okay. So, talk us through it. We're starting off on a weekly chart just like we did on the kind of whiteboard. Exactly. Exactly. What what specific are you looking for that's catching your attention? All right. So, um we can see on the DAX that obviously like on the higher time frames, even if I were to go up to the monthly, we are very much so in an uptrend.

40:42An uptrend is just defined by higher highs, higher lows, you know, breaking the structure. Um, so you can actually even see that with my markings here. Like these lines are actually structural breaks. This one actually isn't just for your reference. This one isn't. It's um just a potential one obviously if it breaks to the downside and closes. Um, so these were just structural breaks.

41:05So we are in a bullish higher time frame trend, right? We're near all-time highs and even though we've kind of retraced a bit now and we are near alltime highs, we're in a bullish trend. So on the weekly uh weekly time frame, that's really mostly what I'm looking for. um knowing the tra time frame and the rough kind of um where we are. Obviously, the trade that I'm going to cover here in a second was taken somewhere in here. Um the only thing that you could maybe say for like a context kind of point of view is that we obviously mitigated kind of like this bigger higher time frame demand area.

41:35I wouldn't even say it's overly important um for the trade itself, but it's something to kind of like keep in the context. This was like a higher time frame um kind of zone, right? um a bit bigger, more major zone. And in this week, the count is obviously where the trade happened. Yeah. Which was actually a buy trade. Okay. Um despite it being a bearish week, but the the premise was it was trading down into an area of demand.

42:01Exactly. Exactly. Just for the context, it was kind of okay, we're trading in a I mean, we've had a big pullback into a um major higher time frame demand zone whilst we're still in an uptrend. Right. Hey guys, the biggest prop firm expo we've seen so far is going down on June 27th in London.

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42:57And if you're planning to grab a ticket, make sure you use code PFT to make the biggest savings. I'll see you there. So, um yeah. So from the higher time frame context even though you had the clues obviously because the trade happened after that big bearish price action which was also due to news um you still from the higher time frame had very much um so reason to kind of um you know assume at least a pullback or a trade where can capitalize on a on a certain kind of a move right um so yeah so that's really the weekly time frame keep that in mind but it's not overly important like I said okay so the daily same thing really I don't need to explain too much obviously I just have these look because it's for the uptrend right like breaking the highs um This one obviously hadn't broken yet, but um prior we had the breaks and then um we obviously had that.

43:40It was uh in this daily candle, I'm pretty sure, fourth of March. Um so we basically um had an aggressive push back at the beginning of the week, mostly due to news, due to volatility. Um at this point in time, however, um we were still in the bullish higher time frame trend and we were also still or at least we didn't have like bearish order flow on the daily, right?

43:56Because at this point in time, we had demand continually holding and then we failed them. Okay, we failed them here, but we never actually held supply. So, I could technically still argue that the high time frame order flow is bullish or it's maybe unconfirmed, right? Um, so it's not perfect. It's not maybe your A+ scenario, but it's still decently aligned with the higher time frames. Yeah, it's a valid trade for you. Exactly. It's a valid trade. Exactly. Um, so yeah, not really much further context needed here.

44:23Okay. Um, and then we go down to the 4our, um, which on the 4th of March was right here. Um so yeah basically on on the 4 hour there's actually not a lot whole lot to say. I mean we can see that we had kind of like demand holding here in the morning um of that day right this kind of like zone but it's not any demand that I deem as important.

44:43So on the 4hour in this specific trade example it's actually not really um that overly important what the 4 hour is kind of doing here. Okay. Um so I was kind of you could say I was kind of just trading a little pullback as soon as I had some confirmed targets to go off of. Right. Mhm. Um, so yeah, I think for the four we can sure leave it at that.

45:03And the 50-minute is really where like the main trade idea kind of was presented. Okay. Um, so that was obviously right here. Um, on the 50-minut time frame on that specific day. Um, right here I noticed in the morning obviously like here's where Asia ends, right? So this is basically where I start trading after kind of the Asia Asia session ends. Um I noticed that we had a um high here um which at that point in time um I deemed as potentially weak um especially when I got into my session because um I'll show you here on the 15 minutes quite clean actually.

45:36We can see a demand zone holding here. So first of all um before that even we get a supply zone breaking here like a you know pivotal high breaking and we see demand holding. So this basically confirming at this point in time that um that we have demand and control. So at this point in time when we have this new pivot created which is uh this one um at this point in time we actually have once I get into my zone.

46:06So this is basically my POI my point of interest where I'm actually interested in taking confirmations on the one minute in. Okay. Um at this point in time we have demand and control and we have multiple targets. We can say we have this internal range liquidity piece uh this one potentially and then the week high. Right. So have multiple targets, not necessarily on the higher time frame in this case, but that's why I said it's maybe not your A+ trader because it didn't have every confluence met, but it still had decent confluences even with the trend on the higher time frame.

46:31So at this point in time, all I was really looking for um was to have my entry model present within this kind of demand within this 50-minute demand zone. Um and then I obviously go to the down to the one minute only for the execution and for the entry model. Um Um yeah, exactly. So um I then look for my for my entry confirmations within this zone. Um there's actually even uh there were actually even prior like uh there was actually even like an entry prior.

47:00I think I believe it was here sweeping this and then reacting here where this was actually a loss. So I did actually even take a loss on this setup before. Okay. But there's no reason not to get involved again um if the setup is still valid and if it gives me a re-entry basically, right? Okay. So in this case we um then see obviously as I said before the the sweep the importance of the sweep.

47:25So we sweep this structural low. Okay this is a structural low um because it breaks this pivotal high here with a body right. So we have get a body break above this high creating a structural point. we get that sweep and prior to that um we already um it's in this case it's not picture perfect because ideally you want to have the flip reaction after um but obviously the markets are not picture perfect and we still have a perfectly valid flip reaction here which is what I explained before where you see price um react to this um pivot or or supply zone we react then the reaction essentially causes the sweep and then we impulsively break up and displace and the way I like to do it on uh especially on DAX says it's a bit more um volatile.

48:05I like to just use the reaction range as opposed to like going for the absolute extreme and you have displacement. Anyways, in those cases, I'd always like cover the range. So, basically, I'm just covering the whole reaction range, right? So, I entered basically um right here actually via market order. Okay. As soon as we broke this high, I entered here via market. Um we can put on the trade tool for that.

48:30And then I just put my stop below below the invalidation point. Yeah. Which would be then here. Um, and then we can go to the 50-minut real quick. Um, we then see that price actually kind of moved fairly quickly in my direction. Um, this is where I then have my break even at the 2 R as you can see. Yeah. Um, I'll just put that here as well, right? It's important for the management.

48:53So, at this point in time, I put the trade to break even. Risk is off and we have no more risk on the table. Um and uh then obviously my target was this week high right so in this case um towards this high that was like close to five bar I think it was like 4.7 or something nice um so yeah that was a 4.7 hour trade I took my my profits here um and happy days yeah nice okay yeah

49:20that looks on yeah looks pretty good man right and then we go the next one right the live one on EU yeah this will be a good one so you mentioned that we are we're switching over to Euro and you've actually got a live trade on this at the moment. So yes, finally I do actually. Yeah. Talk us through exactly what the the mentality was and and the analysis was from the higher time frame exactly the same way because this will be a great example considering you're still in this.

49:42Yeah, 100%. So on EU um I'll I'll start with the weekly time frame as well or the higher time frame. So first of all, you can see we are this is actually a monthly um supply zone. That's why it's not perfectly on any candle. Um this is a monthly supply zone. This is actually also quite a major area in price because if you just look at this from like the the higher time frame kind of perspective, this is really like a a major I mean it's euros in general in a major bearish downtrend on the higher time frame and we are basically now in these structural extremes.

50:12So hitting a major zone like this having taken out all of this internal range liquidity is not necessarily a zone I'd want to expect that it fails, right? Surely it could, right? But um you should definitely be cautious once it get hits and we can see there's a pretty strong reaction from it as well. Right. Right.

50:29Um so that was kind of interesting. It happened a few weeks ago. We tapped that zone. We had a um a very bearish kind of candle close with a large wick um and then we kind of just um consolidated a bit and then we got that follow through. Right. So the trade was this week. Um even going off of like the candle profiling you could see the prior week was bearish. Right? So, as I explained before, you want to see maybe the upper wick creation and then that follow through bearish, which also um happened this week.

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51:39That's tradzella.com and code PFT. Um, so we had that confluence. We didn't at this point in time obviously have like bearish order flow on the weekly or um even per se I mean bearish higher time frame trend yes on the weekly um but like the order flow wasn't and even on the daily you could say there's b um bullish um order flow still or a bullish trend sorry okay um no bearish order flow actually on the daily but bullish trend sorry for that um so I'll just show you that on the daily as well because it's important um so for the direction I think it's important to mention that the order flow for me is more important than like the trend cuz um just to show you like this as a as a actually I don't have time to um so um the trend is is still bullish cuz like I'm looking at the like bigger structural kind of ranges right so this one gets broken here with a body that's like a break then we break this high with a body with the extreme of this move being here so technically obviously we're still in a bearish in a bullish trend but it doesn't really make sense for me to then only be focused at longs um because we would miss all this you know major price action and

52:42like I said the order flow is more important which shift shifted here. We saw demand reacting here to this um buy to sell pivot failing and then supply holding from here. Right? We had another reaction here. Supply holding again continuing lower. So we are I'm I'm very much so um considering the higher time frame in that sense being bearish with the whole context of the monthly and weekly um candle profiling the monthly mitigation even the daily order flow which is really important.

53:03Like I said the order flow is very key and you'll see on the H4 as well we have bearish order flow. So for for like a trend if you want to say so a directional buy says strong reason for um lower prices or for bearish price action. So your your read on order flow is far less about uh if I'm understanding it right it's far less about structure but more so about who's in control of the market.

53:23Exactly. Exactly. Cuz um the trend is is really where it's the structural range is like that's a long it takes a long time to play out. Right. for example, for this high to have created the lowest point and then have broken it again. That's like what like 3 4 months of price action. I mean, if you're only then longing, you you're missing a lot of moves.

53:42It just doesn't really make sense for me. But yeah, the order flow is really key because the order flow is more dynamic. It switches more often. Okay. So, I really want to especially considering that I'm an intraday kind of um trader and trading within the daily uh within the daily candle mostly out by the latest maybe a day or two later.

54:01um the order flow is more key, right? Especially on the daily and the 4 hour. Okay. And on the 4 hour, we'll see that as well that we actually have bearish order flow. I mean, we had bearish order flow prior already right here. Yeah. Um and then we just kind of saw here um towards I think the end of last week um actually no at the beginning of this week. Then um we saw that price started to pull back like we have bearish order flow all the way here.

54:22Then we actually break some pivots here and even here. I mean you can already see I have this annotated because I presume that it may be a sweep, right? Um because the thing is like the key um thing to consider here is that even though we break this pivot and maybe even this one at least wicker, we actually never have seen demand hold, right? So say here for example, demand would have held and we would have continued to break higher.

54:46Okay, then I consider demand in control on the 4 hour and I may be interested in more like intraday longs if I have some reasons, right? But that just wasn't the case, right? So we immediately failed this zone this we react here on the 4hour we fail it we break this low and then we actually hold supply again right so at the point in time when I'm taking the trade which is right here um we have again the 4 hour aligned perfectly after a sweep right so that's like picture perfect right going towards a weak low because it fails to close above this high with a body as well so many reasons and I can also on the lower time frames on the 15 I'll show you I can target all of this internal range liquidity in this back leg as well as ultimately the weak low right which I'm expecting Okay.

55:19To fail. I'll just draw a nice little line here. Um yeah, exactly. So, going to

55:31the 50-minute. In this case, I actually, um, which is something I also sometimes do. In this case, I didn't specifically trade a zone, right? I didn't enter within a 50-minute supply zone. Um, I basically traded the zone wipe is what you could say. That's also like a valid way of doing it. The Sorry, you call that the zone wipe. The zone wipe. Yeah. When the zone gets swept essentially, we're just So, I'll just explain it from from like the context. Obviously, this is the 4hour holding here at this point, right?

55:54The 4hour zone. So, we have bearish order flow here. And we also have bearish 50-minute order flow, right? We have supply zones holding breaking. Then, we eventually um get um this demand reaction here, the failure, and then we have another reaction here, which is basically a flip zone right to the left. We react to this old 50-minute zone. And it's not overly important.

56:14I'm not looking to trade off of it or anything, but it's just an area that's okay, interesting. Maybe price could give a pullback from here, which we then actually do, right? Um, so we actually sweep this high or um or even like this high which is basically like the zone I was more so looking at.

56:28Um, I just have it annotated like this because it also took out this high, right? But let's just say perfectly off of like the way I tried. So we um we um sweep this high right here and which is a flip zone, right? So this was initially um at this point in time here, this was actually a supply zone I was interested to look for trades from, right?

56:44So I was actually wanting to look for my one minute sweep in here. Okay, with it price not having done that, but instead of having swept it, it's still perfectly valid as long as I get my confirmation right after the sweep here. So, I'm going to show you on the one minute in a second. Um, the same exact process as it would be within that 50-minute supply zone, just that it swept it first, right? Um, so yeah, I'll show you that on the one minute.

57:07So, that trade was taken yesterday. Um, I'll just have to draw it on as well um for the perfect reference. Um, so I'll just remove this for a second here because it's a bit more cleaner. Um so yeah, we sweep that um 50-minut um supply zone structural or even this one. It doesn't really matter um in the end. Um and then what we can see is that um we don't immediately get like a flip zone, right?

57:31And we don't immediately get that, but um we can already see the first signs with this um kind of demand here failing. We don't it's it's not overly important to me as in like entering, but it's still like interesting for me to know. Okay. um we can already see these signs when we have major displacement and we also fail at demands and so okay at this point in time I know the last point of demand prior to this sweep has failed and um now I'm just basically looking for my flip entry model so that transactional kind of um move to then actually confirm the entry and um have my my yeah my trade basically fully played out.

58:04So, we then actually did get that um it's uh a bit messy technically, but it doesn't really matter in the end. It's a big zone, right? It's a big candle. Okay. Um but it's it's still a valid uh like demand zone where I see reaction from. Um so, we can say we then have this I could also draw this one, but it's just if I'm being just perfect, you know, um this zone, we then see price push up, but then we get the reaction to it, right?

58:33we see here is the extreme of that reaction leg and then we push up and I eventually fail the zone right so then what I did again same as as on ducks um once we fail this reaction I mean you could have also waited for the zone to fail you would have also gotten your entry right say so like this is technically another example if you would have to have taken this wick as your zone that's also perfectly fine it doesn't really matter but you get another flip here where this candle would have been your entry right um but I just went a bit more aggressive cuz I already had the confirmation with demand having failed here and even though it's visually not as appealing maybe this one um as maybe this one it's still the the concept behind it is the same the idea is the same right so I then just basically entered off of like this reaction range because this is like the flip reaction range right so this the extreme until like this is like the reaction until like the extreme of the reaction so this basically this range was like my my entry if you were to say so as soon as that low had failed

59:30right as soon as we um went below that low so I then just marked market entered right here. Price was just playing around there. Anyways, I put my stop above the invalidation point, right? It's always the same. Mhm. Um I think these were kind of the exact stats that I had. Yeah. Um stop at the invalidation point. And then we can kind of um see obviously that moves nicely in that direction. Um I'll go to the 50-minute cuz it's a bit messy maybe here.

59:52Um we did then eventually during the night. I mean I entered yesterday, right? Um we then eventually hit 2R I think sometime in the night which is my break even level. So at this point I went break even. Y um which I'll also just draw on for the um cleanness of it right here. Just put it like this. And then um obviously since then it just kind of continued to go down.

1:00:20I was even interested in potential scalins today, but um there just really weren't any like clean trades unfortunately because you can see like there's no real zone and then we maybe create a zone here, but price just never comes back, right? Okay. It's just sometimes the case. That's how it is. Yeah. Um but yeah, so um ultimately my my target where I'm going to take the TP is right here at this low. We're obviously very close. We can see and we're just um right uh whilst we're recording this, we're just trickling around, hovering around the takeprofit.

1:00:46This is obviously sometimes it's mentally quite annoying, you know, like all this messing about, but essentially it doesn't really matter. Um, I'm just going to be able to hold it through because I have enough data and confidence in my in my um edge basically that I can just hold it right. I'm not too worried about it. Um, I'm pretty certain they'll probably hit the TP in the next maybe few hours or during Asia. Yeah. And so, yeah, that was this trade.

1:01:09Yeah, that was uh Okay, awesome. I think that was a really good explanation. And it was really helpful to see obviously the theory on the whiteboard down into the charts and you obviously talked us through it step by step from the weekly time frame all the way down to execution and we got the privilege of actually seeing a live trade in action. Hopefully in the next few minutes that hits for you and then uh hopefully hopefully it would be nice.

1:01:29We'll see how we go. Um but yeah, honestly thank you so much man. I really appreciate your time man. It was a real real pleasure. Guys and girls I hope you guys enjoyed that. We really got inside the mind of Harry. He talked us through the what he's looking for on the chart from the higher time frame all the way down to the lower time frame. A lot of gem shared there in terms of exactly what he's looking for that has helped him to take a quarter of a million dollars out of the market over the last couple years.

1:01:51Absolutely phenomenal results. I'm sure there's going to be a ton of things that you guys can take away from this to think about how you're going to improve your approach to the market. Let us know what those are in the comments. Thank you so much to Harry again. Uh really looking forward to jumping on the pod with him and diving inside his mind.

1:02:13So, keep your eyes peeled for that one. As always, if you enjoyed this video, make sure you drop a like, subscribe to the channel, and I will see you in the next one.