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Last modified by Drunk Monkey on 2023-01-14 05:38
From version 14.1
edited by Drunk Monkey
on 2020-06-28 20:22
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edited by Drunk Monkey
on 2020-06-27 18:50
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1 -{{box cssClass="box floatinginfobox" title="**Quick Links**"}}
2 -{{toc start="2"/}}
3 -{{/box}}
1 +== Optimal Trade Entry Primer ==
4 4  
5 -== {{id name="Primer"/}}Optimal Trade Entry Primer ==
6 6  
7 -* one of many trading patterns, one of the easiest
8 -* trading plan needs to be simple:
9 -** what's your risk model
10 -** how to frame that?
11 -** what makes your entry
12 -** what gives you indicators of bullish/bearish market?
13 -** how do you execute the trade?
14 -** how do you manage the trade?
15 -** where do you take profits?
16 -* what make the market predisposed to go higher or lower?
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.
19 -** LTF is too noisy to show this detail.
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 -* The impulse move has to incorporate a break in Market Structure.
22 -* Using Fib Retracement as a visual guide, set the following levels
23 -** -1 - Symmetrical Price Swing
24 -** -0.62 - TP2
25 -** -0.27 - TP1
26 -** 0 - First Profit - Scaling
27 -** 0.5 - Equilibrium
28 -** 0.618 - 62% retracement
29 -** 0.705 - OTE 70.5%
30 -** 0.79 - 79%
31 -** 1 - 100%, or likely SL
32 -* OTE (70.5%) is an ideal target.  getting deeper is better, but you run the risk of not filling your order.  62% retracement is also acceptable, but it results in smaller profits because our SL range will be larger, necessitating smaller order sizes to maintain our risk profile.
33 -* First Scaling, or slightly before, represents the place to take initial profits.  It should be a decent return, preferable better than 1:2 risk/reward, but slightly less than 2 (1.5? 1x75?) is also acceptable.
34 -* Setups on 1h charts better than 5m charts because the pip movements will be larger.
35 -* Key levels xxx.00, xxx.20, xxx.50, xxx.80, yyy.00
36 -* Place the fibs on the body of the candles
37 -* Market structure - example given:
38 -- monthly view
39 -[[image:Screenshot 2020-06-29 at 03.11.56.png]]
40 -\\- daily view
41 -[[image:Screenshot 2020-06-29 at 03.14.02.png]]
42 -\\- 15m view[[image:Screenshot 2020-06-29 at 03.06.46.png]]
43 -* Note the following:
44 -** institutional levels
45 -** old monthly high at 1.1720 (1.17137 rounded)
46 -** price runs down until it hits the 20 level (1.1720), rallies and creates a new short term high (old - middle red line, new STH, top red line. It's also called a "market structure break"
47 -** the new STH makes for a more likely trade opportunity. (market maker model) and opens up the chance for an OTE.
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 -** at the fib, we see price rockets away from a STL
50 -* when old highs/lows are broken, trades will tend to reach back to those old positions (retail calls it "support")
51 -
52 -== {{id name="Intro"/}}Introduction ==
53 -
54 -* how to annotate the charts to look for specific price patterns
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 -*
57 -
58 -== {{id name="Ex01"/}}Example 1 ==
59 -
60 -* example
61 -
62 -== {{id name="Ex02"/}}Example 2 ==
63 -
64 -* example
65 -
66 -== {{id name="Ex03"/}}Example 3 ==
67 -
68 -* example
69 -
70 -== {{id name="Ex04"/}}Example 4 ==
71 -
72 -* example
73 -
74 -== {{id name="Ex05"/}}Example 5 ==
75 -
76 -* example
77 -
78 -== {{id name="Ex06"/}}Example 6 ==
79 -
80 -* example
81 -
82 -== {{id name="Ex07"/}}Example 7 ==
83 -
84 -* example
85 -
86 -== {{id name="Ex08"/}}Example 8 ==
87 -
88 -* example
89 -
90 -== {{id name="Ex09"/}}Example 9 ==
91 -
92 -* example
93 -
94 -== {{id name="Ex10"/}}Example 10 ==
95 -
96 -* example
97 -
98 -== {{id name="Ex11"/}}Example 11 ==
99 -
100 -* example
101 -
102 -== {{id name="Ex12"/}}Example 12 ==
103 -
104 -* example
105 -
106 -== {{id name="Ex13"/}}Example 13 ==
107 -
108 -* example
109 -
110 -== {{id name="Ex14"/}}Example 14 ==
111 -
112 -* example
113 -
114 -== {{id name="Ex15"/}}Example 15 ==
115 -
116 -* example
117 -
118 -== {{id name="Ex16"/}}Example 16 ==
119 -
120 -* example
121 -
122 -== {{id name="Ex17"/}}Example 17 ==
123 -
124 -* example
125 -
126 -== {{id name="Ex18"/}}Example 18 ==
127 -
128 -* example
129 -
130 -== {{id name="Ex19"/}}Example 19 ==
131 -
132 -* example
133 -
134 -== {{id name="Ex20"/}}Example 20 ==
135 -
136 -* example
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