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From version 18.1
edited by Drunk Monkey
on 2020-06-28 21:03
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To version 48.1
edited by Drunk Monkey
on 2020-07-06 21:00
Change comment: Uploaded new attachment "Screenshot 2020-07-07 at 04.59.43.jpg", version {1}

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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 5  == {{id name="Primer"/}}Optimal Trade Entry Primer ==
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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 -== {{id name="Intro"/}}Introduction ==
54 +====== ~[[[top>>doc:]]] ======
53 53  
56 +== {{id name="Intro"/}}Introduction - AUDUSD ==
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 -== {{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]]
123 +
124 +* Trading View chart, 15m
125 +[[image:Screenshot 2020-07-07 at 02.10.10.png]]
126 +
127 +* On the above chart is a second OTE occurring just after the OTE period opening
128 +[[image:Screenshot 2020-07-07 at 02.19.10.png]]
129 +\\From the swing low, to the new high breaking the previous high.  The OTE opportunity crosses the weekend.  
130 +
131 +* 5m chart view
132 +[[image:Screenshot 2020-07-07 at 02.22.17.png||queryString="width=591&height=819" height="819" width="591"]]
133 +\\the recent low marked, right side showing the new high forming the OTE pattern.
63 63  
64 -* example
135 +====== ~[[[top>>doc:]]] ======
65 65  
66 -== {{id name="Ex03"/}}Example 3 ==
137 +== {{id name="Ex03"/}}Example 3 - S&P 500 E-Mini Futures (June 2020) ==
67 67  
68 -* example
139 +* Daily Chart
140 +[[image:Screenshot 2020-07-07 at 02.43.11.jpg]]
141 +
142 +* currently inside of an OTE 
143 +[[image:Screenshot 2020-07-07 at 02.46.32.jpg||height="696" width="687"]]
144 +\\The fib provides a framework - old low, old high, retracement back to the 79 level.  On the daily chart, the momentum is likely to go higher.  It could be reaching for the old high, it could break through, or it could fail.  It doesn't matter.
145 +\\What we do care is that it is likely to run the previous day's high.
146 +
147 +* Previous day's high marked
148 +[[image:Screenshot 2020-07-07 at 02.53.30.jpg||height="167" width="848"]]
149 +
150 +* 5m chart
151 +[[image:Screenshot 2020-07-07 at 03.24.45.jpg]]
152 +
153 +* Marked up
154 +[[image:Screenshot 2020-07-07 at 03.28.25.jpg]]
155 +\\The "big figure" is 2900.  Price has traded down into that during the NY session.  Whenever a big figure is swept, either down into, or up into, it generally creates a tradeable bounce or retracement, even if it is very short lived. 
156 +
157 +* Focus on the NY session time to find the OTE
158 +[[image:Screenshot 2020-07-07 at 03.31.40.jpg||height="417" width="313"]]
159 +
160 +* OTE marked
161 +[[image:Screenshot 2020-07-07 at 03.34.05.jpg||height="850" width="775"]]
162 +
163 +* and here is how it played out
164 +[[image:Screenshot 2020-07-07 at 03.36.45.jpg]]
165 +\\In this example, the market tends to want to gravitate towards the old high because the market is bullish, and will catch out the market short sellers.
166 +
69 69  
70 -== {{id name="Ex04"/}}Example 4 ==
168 +====== ~[[[top>>doc:]]] ======
71 71  
72 -* example
170 +== {{id name="Ex04"/}}Example 4 - GBPUSD ==
73 73  
172 +* 1H chart
173 +[[image:Screenshot 2020-07-07 at 04.22.04.jpg]]
174 +
175 +* Marked up using "support and resistance" paradigm. Note that this is a retail trading mindset and it is wrong.
176 +[[image:Screenshot 2020-07-07 at 04.31.28.jpg]]
177 +\\Again.  Wrong.
178 +
179 +* ICT Markup - [Market Efficiency Paradigm] (link to definition later)
180 +[[image:Screenshot 2020-07-07 at 04.34.19.jpg]]
181 +\\It's basically the narrative of why prices goes where it does and why it reacts the way it does when it reaches there and what it is going to do next.
182 +
183 +====== ~[[[top>>doc:]]] ======
184 +
74 74  == {{id name="Ex05"/}}Example 5 ==
75 75  
76 76  * example
77 77  
189 +====== ~[[[top>>doc:]]] ======
190 +
78 78  == {{id name="Ex06"/}}Example 6 ==
79 79  
80 80  * example
81 81  
195 +====== ~[[[top>>doc:]]] ======
196 +
82 82  == {{id name="Ex07"/}}Example 7 ==
83 83  
84 84  * example
85 85  
201 +====== ~[[[top>>doc:]]] ======
202 +
86 86  == {{id name="Ex08"/}}Example 8 ==
87 87  
88 88  * example
89 89  
207 +====== ~[[[top>>doc:]]] ======
208 +
90 90  == {{id name="Ex09"/}}Example 9 ==
91 91  
92 92  * example
93 93  
213 +====== ~[[[top>>doc:]]] ======
214 +
94 94  == {{id name="Ex10"/}}Example 10 ==
95 95  
96 96  * example
97 97  
219 +====== ~[[[top>>doc:]]] ======
220 +
98 98  == {{id name="Ex11"/}}Example 11 ==
99 99  
100 100  * example
101 101  
225 +====== ~[[[top>>doc:]]] ======
226 +
102 102  == {{id name="Ex12"/}}Example 12 ==
103 103  
104 104  * example
105 105  
231 +====== ~[[[top>>doc:]]] ======
232 +
106 106  == {{id name="Ex13"/}}Example 13 ==
107 107  
108 108  * example
109 109  
237 +====== ~[[[top>>doc:]]] ======
238 +
110 110  == {{id name="Ex14"/}}Example 14 ==
111 111  
112 112  * example
113 113  
243 +====== ~[[[top>>doc:]]] ======
244 +
114 114  == {{id name="Ex15"/}}Example 15 ==
115 115  
116 116  * example
117 117  
249 +====== ~[[[top>>doc:]]] ======
250 +
118 118  == {{id name="Ex16"/}}Example 16 ==
119 119  
120 120  * example
121 121  
255 +====== ~[[[top>>doc:]]] ======
256 +
122 122  == {{id name="Ex17"/}}Example 17 ==
123 123  
124 124  * example
125 125  
261 +====== ~[[[top>>doc:]]] ======
262 +
126 126  == {{id name="Ex18"/}}Example 18 ==
127 127  
128 128  * example
129 129  
267 +====== ~[[[top>>doc:]]] ======
268 +
130 130  == {{id name="Ex19"/}}Example 19 ==
131 131  
132 132  * example
133 133  
273 +====== ~[[[top>>doc:]]] ======
274 +
134 134  == {{id name="Ex20"/}}Example 20 ==
135 135  
136 136  * example
278 +
279 +====== ~[[[top>>doc:]]] ======
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