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Last modified by Drunk Monkey on 2023-01-14 05:38
From version 19.2
edited by Drunk Monkey
on 2020-06-28 21:43
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To version 35.1
edited by Drunk Monkey
on 2020-07-06 18:23
Change comment: There is no comment for this version

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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  
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
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70 70  \\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.
71 71  
72 72  * 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. 
73 -[[image:Screenshot 2020-06-29 at 05.02.49.png||height="579" width="385"]]
77 +[[image:Screenshot 2020-06-29 at 05.02.49.png||queryString="width=385&height=579" height="579" width="385"]]
74 74  The green box represents the 62 to 79% Fib retracement levels in the OTE pattern
75 75  
76 76  * 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
77 77  
78 -* Fib settings for Trading View
79 -[[image:Screenshot 2020-06-29 at 05.10.27.png||height="533" width="363"]]
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)
80 80  
81 -== {{id name="Ex02"/}}Example 2 ==
105 +====== ~[[[top>>doc:]]] ======
82 82  
83 -* example
107 +== {{id name="Ex02"/}}Example 2 - USDJPY ==
84 84  
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]]
133 +
134 +====== ~[[[top>>doc:]]] ======
135 +
85 85  == {{id name="Ex03"/}}Example 3 ==
86 86  
87 87  * example
88 88  
140 +====== ~[[[top>>doc:]]] ======
141 +
89 89  == {{id name="Ex04"/}}Example 4 ==
90 90  
91 91  * example
92 92  
146 +====== ~[[[top>>doc:]]] ======
147 +
93 93  == {{id name="Ex05"/}}Example 5 ==
94 94  
95 95  * example
96 96  
152 +====== ~[[[top>>doc:]]] ======
153 +
97 97  == {{id name="Ex06"/}}Example 6 ==
98 98  
99 99  * example
100 100  
158 +====== ~[[[top>>doc:]]] ======
159 +
101 101  == {{id name="Ex07"/}}Example 7 ==
102 102  
103 103  * example
104 104  
164 +====== ~[[[top>>doc:]]] ======
165 +
105 105  == {{id name="Ex08"/}}Example 8 ==
106 106  
107 107  * example
108 108  
170 +====== ~[[[top>>doc:]]] ======
171 +
109 109  == {{id name="Ex09"/}}Example 9 ==
110 110  
111 111  * example
112 112  
176 +====== ~[[[top>>doc:]]] ======
177 +
113 113  == {{id name="Ex10"/}}Example 10 ==
114 114  
115 115  * example
116 116  
182 +====== ~[[[top>>doc:]]] ======
183 +
117 117  == {{id name="Ex11"/}}Example 11 ==
118 118  
119 119  * example
120 120  
188 +====== ~[[[top>>doc:]]] ======
189 +
121 121  == {{id name="Ex12"/}}Example 12 ==
122 122  
123 123  * example
124 124  
194 +====== ~[[[top>>doc:]]] ======
195 +
125 125  == {{id name="Ex13"/}}Example 13 ==
126 126  
127 127  * example
128 128  
200 +====== ~[[[top>>doc:]]] ======
201 +
129 129  == {{id name="Ex14"/}}Example 14 ==
130 130  
131 131  * example
132 132  
206 +====== ~[[[top>>doc:]]] ======
207 +
133 133  == {{id name="Ex15"/}}Example 15 ==
134 134  
135 135  * example
136 136  
212 +====== ~[[[top>>doc:]]] ======
213 +
137 137  == {{id name="Ex16"/}}Example 16 ==
138 138  
139 139  * example
140 140  
218 +====== ~[[[top>>doc:]]] ======
219 +
141 141  == {{id name="Ex17"/}}Example 17 ==
142 142  
143 143  * example
144 144  
224 +====== ~[[[top>>doc:]]] ======
225 +
145 145  == {{id name="Ex18"/}}Example 18 ==
146 146  
147 147  * example
148 148  
230 +====== ~[[[top>>doc:]]] ======
231 +
149 149  == {{id name="Ex19"/}}Example 19 ==
150 150  
151 151  * example
152 152  
236 +====== ~[[[top>>doc:]]] ======
237 +
153 153  == {{id name="Ex20"/}}Example 20 ==
154 154  
155 155  * example
241 +
242 +====== ~[[[top>>doc:]]] ======
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