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on 2020-07-06 18:19
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1 1  {{box cssClass="box floatinginfobox" title="**Quick Links**"}}
2 -{{toc start="2"/}}
2 +{{toc start="2" depth="5" numbered="true"/}}
3 3  {{/box}}
4 4  
5 -== Optimal Trade Entry Primer ==
5 +== {{id name="Primer"/}}Optimal Trade Entry Primer ==
6 6  
7 7  * one of many trading patterns, one of the easiest
8 8  * trading plan needs to be simple:
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15 15  ** where do you take profits?
16 16  * what make the market predisposed to go higher or lower?
17 17  ** look at HTF (M, W, D, 4h) and look for key levels where price has moved away from in the past
18 -** HTF shows where the big players are most likely going to push things around.
18 +** HTF shows where the big players are most likely going to push things around.
19 19  ** LTF is too noisy to show this detail.
20 20  * Assuming bullish market, we are looking for where the market wants to trade higher.  OTE is based on buying during the retracements that occur before the further push upwards.
21 21  * The impulse move has to incorporate a break in Market Structure.
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40 40  \\- daily view
41 41  [[image:Screenshot 2020-06-29 at 03.14.02.png]]
42 42  \\- 15m view[[image:Screenshot 2020-06-29 at 03.06.46.png]]
43 +
43 43  * Note the following:
44 44  ** institutional levels
45 45  ** old monthly high at 1.1720 (1.17137 rounded)
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47 47  ** the new STH makes for a more likely trade opportunity. (market maker model) and opens up the chance for an OTE.
48 48  ** also, a high, with two lower highs on either side makes that high more significant.  when this high is broken, it's a more convincing move than breaking the other shorter term highs, thus giving us the opportunity to find a likely OTE.
49 49  ** at the fib, we see price rockets away from a STL
51 +
50 50  * when old highs/lows are broken, trades will tend to reach back to those old positions (retail calls it "support")
51 51  
52 -== Introduction ==
54 +====== ~[[[top>>doc:]]] ======
53 53  
56 +== {{id name="Intro"/}}Introduction ==
57 +
54 54  * how to annotate the charts to look for specific price patterns
55 55  * study for the patterns for a month, and it'll start to become more easily recognizable as you train your brain to recognize it, then see if you can see it live
56 -*
60 +* the pattern should appear every day, but not necessarily on the same pairs
61 +* daily chart - audusd, 20-apr-2020 contains two down candles, showing orderblock
62 +[[image:Screenshot 2020-06-29 at 04.21.46.png]]
63 +
64 +* the two equal lows in May are sensitive to prices in that order block
65 +[[image:Screenshot 2020-06-29 at 04.23.52.png]]
66 +
67 +* we are primarily looking for reactions to the previous days range. (last visible green candle in the picture above)
68 +* can we determine whether the price is going to be able to break the previous days high or low?
69 +[[image:Screenshot 2020-06-29 at 04.50.28.png]]
70 +We can see that the recent lows pushed slightly into the order block, but returned indicating that prices doesn't currently want to run lower.
71 +
72 +* AUDUSD 5M example[[image:Screenshot 2020-06-29 at 04.58.02.png]]
73 +Mark out the previous days high and low.
74 +\\The black line (6450) represents the closest institutional or key level near the previous days high.  The blue lines above and below are a 10 pip spread.
75 +
76 +* The OTE pattern occurs during the 8:30 to 11:00am NY session.  That's when the major news and reports tends to come out. 
77 +[[image:Screenshot 2020-06-29 at 05.02.49.png||queryString="width=385&height=579" height="579" width="385"]]
78 +The green box represents the 62 to 79% Fib retracement levels in the OTE pattern
79 +
80 +* The Fib box is drawn from the low to high when the previous days high has been broken.
81 +* Trade
82 +** lot size that allows taking the partials (0.04, take a bit off each time? 
83 +** SL will be set below the 100 level.
84 +** Profit taking
85 +*** take at 1st scaling at -0.5 or 15 pips or more
86 +*** take next at -1.0 or 15 pips or more (or slightly before - round down to the nearest 10 level)
87 +*** take a scaling at 100 pips regardless of where you are
88 +*** take next at -1.5
89 +*** take next at -2.0
90 +*** once price moves beyond the 1st scaling, move the SL up (just beyond BE)
91 +*** 2nd scaling - move SL above SL.
92 +*** other scalings - watch the trades, then set SL beyond BE, not to close so there is room for the trade to run.
93 +*** get out by the last scaling
94 +* Fib settings for Trading View:
95 +[[image:Screenshot 2020-06-29 at 05.10.27.png||queryString="width=363&height=533" height="533" width="363"]]
96 +We could also at -1.5 level
97 +
98 +* key things learned
99 +** when to move a stop
100 +** what entry price to look for
101 +** where stop loss should be
102 +** where do you take partials
103 +** what you avoid doing to your revised stops (choking them out)
57 57  
58 -== Example 1 ==
105 +====== ~[[[top>>doc:]]] ======
59 59  
60 -* example
107 +== {{id name="Ex02"/}}Example 2 - USDJPY ==
61 61  
62 -== Example 2 ==
109 +* Daily Chart
110 +[[image:Screenshot 2020-07-07 at 01.38.28.png]]
111 +\\fib drawn from the swing low, to the swing high
112 +
113 +* previous days high (2nd last candle) broke the high from the day before that.  This means we could potentially see a turn, or an expansion to the upside
114 +[[image:Screenshot 2020-07-07 at 01.40.40.png]]
115 +\\Our high is 106.65(7)
116 +
117 +* Dropping into the 5m chart:
118 +[[image:Screenshot 2020-07-07 at 01.43.50.png]]
119 +\\Where do you think the OTE is going to be?  Look before scrolling further.  Remember the magic hours of 08:30 - 11:00 NY time. 
120 +
121 +* Fib added from the previous low at point 1, to the last recent high at point 2
122 +[[image:Screenshot 2020-07-07 at 01.47.47.png]]
63 63  
64 -* example
124 +====== ~[[[top>>doc:]]] ======
65 65  
66 -== Example 3 ==
126 +== {{id name="Ex03"/}}Example 3 ==
67 67  
68 68  * example
69 69  
70 -== Example 4 ==
130 +====== ~[[[top>>doc:]]] ======
71 71  
132 +== {{id name="Ex04"/}}Example 4 ==
133 +
72 72  * example
73 73  
74 -== Example 5 ==
136 +====== ~[[[top>>doc:]]] ======
75 75  
138 +== {{id name="Ex05"/}}Example 5 ==
139 +
76 76  * example
77 77  
78 -== Example 6 ==
142 +====== ~[[[top>>doc:]]] ======
79 79  
144 +== {{id name="Ex06"/}}Example 6 ==
145 +
80 80  * example
81 81  
82 -== Example 7 ==
148 +====== ~[[[top>>doc:]]] ======
83 83  
150 +== {{id name="Ex07"/}}Example 7 ==
151 +
84 84  * example
85 85  
86 -== Example 8 ==
154 +====== ~[[[top>>doc:]]] ======
87 87  
156 +== {{id name="Ex08"/}}Example 8 ==
157 +
88 88  * example
89 89  
90 -== Example 9 ==
160 +====== ~[[[top>>doc:]]] ======
91 91  
162 +== {{id name="Ex09"/}}Example 9 ==
163 +
92 92  * example
93 93  
94 -== Example 10 ==
166 +====== ~[[[top>>doc:]]] ======
95 95  
168 +== {{id name="Ex10"/}}Example 10 ==
169 +
96 96  * example
97 97  
98 -== Example 11 ==
172 +====== ~[[[top>>doc:]]] ======
99 99  
174 +== {{id name="Ex11"/}}Example 11 ==
175 +
100 100  * example
101 101  
102 -== Example 12 ==
178 +====== ~[[[top>>doc:]]] ======
103 103  
180 +== {{id name="Ex12"/}}Example 12 ==
181 +
104 104  * example
105 105  
106 -== Example 13 ==
184 +====== ~[[[top>>doc:]]] ======
107 107  
186 +== {{id name="Ex13"/}}Example 13 ==
187 +
108 108  * example
109 109  
110 -== Example 14 ==
190 +====== ~[[[top>>doc:]]] ======
111 111  
192 +== {{id name="Ex14"/}}Example 14 ==
193 +
112 112  * example
113 113  
114 -== Example 15 ==
196 +====== ~[[[top>>doc:]]] ======
115 115  
198 +== {{id name="Ex15"/}}Example 15 ==
199 +
116 116  * example
117 117  
118 -== Example 16 ==
202 +====== ~[[[top>>doc:]]] ======
119 119  
204 +== {{id name="Ex16"/}}Example 16 ==
205 +
120 120  * example
121 121  
122 -== Example 17 ==
208 +====== ~[[[top>>doc:]]] ======
123 123  
210 +== {{id name="Ex17"/}}Example 17 ==
211 +
124 124  * example
125 125  
126 -== Example 18 ==
214 +====== ~[[[top>>doc:]]] ======
127 127  
216 +== {{id name="Ex18"/}}Example 18 ==
217 +
128 128  * example
129 129  
130 -== Example 19 ==
220 +====== ~[[[top>>doc:]]] ======
131 131  
222 +== {{id name="Ex19"/}}Example 19 ==
223 +
132 132  * example
133 133  
134 -== Example 20 ==
226 +====== ~[[[top>>doc:]]] ======
135 135  
228 +== {{id name="Ex20"/}}Example 20 ==
229 +
136 136  * example
231 +
232 +====== ~[[[top>>doc:]]] ======
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