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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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To version 29.1
edited by Drunk Monkey
on 2020-07-06 17:53
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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)
... ... @@ -47,90 +47,186 @@
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  
54 +====== ~[[[top>>doc:]]] ======
55 +
52 52  == {{id name="Intro"/}}Introduction ==
53 53  
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 -== {{id name="Ex01"/}}Example 1 ==
105 +====== ~[[[top>>doc:]]] ======
59 59  
60 -* example
107 +== {{id name="Ex02"/}}Example 2 - USDJPY ==
61 61  
62 -== {{id name="Ex02"/}}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 66  == {{id name="Ex03"/}}Example 3 ==
67 67  
68 68  * example
69 69  
130 +====== ~[[[top>>doc:]]] ======
131 +
70 70  == {{id name="Ex04"/}}Example 4 ==
71 71  
72 72  * example
73 73  
136 +====== ~[[[top>>doc:]]] ======
137 +
74 74  == {{id name="Ex05"/}}Example 5 ==
75 75  
76 76  * example
77 77  
142 +====== ~[[[top>>doc:]]] ======
143 +
78 78  == {{id name="Ex06"/}}Example 6 ==
79 79  
80 80  * example
81 81  
148 +====== ~[[[top>>doc:]]] ======
149 +
82 82  == {{id name="Ex07"/}}Example 7 ==
83 83  
84 84  * example
85 85  
154 +====== ~[[[top>>doc:]]] ======
155 +
86 86  == {{id name="Ex08"/}}Example 8 ==
87 87  
88 88  * example
89 89  
160 +====== ~[[[top>>doc:]]] ======
161 +
90 90  == {{id name="Ex09"/}}Example 9 ==
91 91  
92 92  * example
93 93  
166 +====== ~[[[top>>doc:]]] ======
167 +
94 94  == {{id name="Ex10"/}}Example 10 ==
95 95  
96 96  * example
97 97  
172 +====== ~[[[top>>doc:]]] ======
173 +
98 98  == {{id name="Ex11"/}}Example 11 ==
99 99  
100 100  * example
101 101  
178 +====== ~[[[top>>doc:]]] ======
179 +
102 102  == {{id name="Ex12"/}}Example 12 ==
103 103  
104 104  * example
105 105  
184 +====== ~[[[top>>doc:]]] ======
185 +
106 106  == {{id name="Ex13"/}}Example 13 ==
107 107  
108 108  * example
109 109  
190 +====== ~[[[top>>doc:]]] ======
191 +
110 110  == {{id name="Ex14"/}}Example 14 ==
111 111  
112 112  * example
113 113  
196 +====== ~[[[top>>doc:]]] ======
197 +
114 114  == {{id name="Ex15"/}}Example 15 ==
115 115  
116 116  * example
117 117  
202 +====== ~[[[top>>doc:]]] ======
203 +
118 118  == {{id name="Ex16"/}}Example 16 ==
119 119  
120 120  * example
121 121  
208 +====== ~[[[top>>doc:]]] ======
209 +
122 122  == {{id name="Ex17"/}}Example 17 ==
123 123  
124 124  * example
125 125  
214 +====== ~[[[top>>doc:]]] ======
215 +
126 126  == {{id name="Ex18"/}}Example 18 ==
127 127  
128 128  * example
129 129  
220 +====== ~[[[top>>doc:]]] ======
221 +
130 130  == {{id name="Ex19"/}}Example 19 ==
131 131  
132 132  * example
133 133  
226 +====== ~[[[top>>doc:]]] ======
227 +
134 134  == {{id name="Ex20"/}}Example 20 ==
135 135  
136 136  * example
231 +
232 +====== ~[[[top>>doc:]]] ======
233 +
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