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edited by Drunk Monkey
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on 2020-07-06 20:32
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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 56  * the pattern should appear every day, but not necessarily on the same pairs
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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  
85 -== {{id name="Ex03"/}}Example 3 ==
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.
86 86  
87 -* example
135 +====== ~[[[top>>doc:]]] ======
88 88  
89 -== {{id name="Ex04"/}}Example 4 ==
137 +== {{id name="Ex03"/}}Example 3 - S&P 500 E-Mini Futures (June 2020) ==
90 90  
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 +
167 +
168 +====== ~[[[top>>doc:]]] ======
169 +
170 +== {{id name="Ex04"/}}Example 4 - GBPUSD ==
171 +
91 91  * example
92 92  
174 +====== ~[[[top>>doc:]]] ======
175 +
93 93  == {{id name="Ex05"/}}Example 5 ==
94 94  
95 95  * example
96 96  
180 +====== ~[[[top>>doc:]]] ======
181 +
97 97  == {{id name="Ex06"/}}Example 6 ==
98 98  
99 99  * example
100 100  
186 +====== ~[[[top>>doc:]]] ======
187 +
101 101  == {{id name="Ex07"/}}Example 7 ==
102 102  
103 103  * example
104 104  
192 +====== ~[[[top>>doc:]]] ======
193 +
105 105  == {{id name="Ex08"/}}Example 8 ==
106 106  
107 107  * example
108 108  
198 +====== ~[[[top>>doc:]]] ======
199 +
109 109  == {{id name="Ex09"/}}Example 9 ==
110 110  
111 111  * example
112 112  
204 +====== ~[[[top>>doc:]]] ======
205 +
113 113  == {{id name="Ex10"/}}Example 10 ==
114 114  
115 115  * example
116 116  
210 +====== ~[[[top>>doc:]]] ======
211 +
117 117  == {{id name="Ex11"/}}Example 11 ==
118 118  
119 119  * example
120 120  
216 +====== ~[[[top>>doc:]]] ======
217 +
121 121  == {{id name="Ex12"/}}Example 12 ==
122 122  
123 123  * example
124 124  
222 +====== ~[[[top>>doc:]]] ======
223 +
125 125  == {{id name="Ex13"/}}Example 13 ==
126 126  
127 127  * example
128 128  
228 +====== ~[[[top>>doc:]]] ======
229 +
129 129  == {{id name="Ex14"/}}Example 14 ==
130 130  
131 131  * example
132 132  
234 +====== ~[[[top>>doc:]]] ======
235 +
133 133  == {{id name="Ex15"/}}Example 15 ==
134 134  
135 135  * example
136 136  
240 +====== ~[[[top>>doc:]]] ======
241 +
137 137  == {{id name="Ex16"/}}Example 16 ==
138 138  
139 139  * example
140 140  
246 +====== ~[[[top>>doc:]]] ======
247 +
141 141  == {{id name="Ex17"/}}Example 17 ==
142 142  
143 143  * example
144 144  
252 +====== ~[[[top>>doc:]]] ======
253 +
145 145  == {{id name="Ex18"/}}Example 18 ==
146 146  
147 147  * example
148 148  
258 +====== ~[[[top>>doc:]]] ======
259 +
149 149  == {{id name="Ex19"/}}Example 19 ==
150 150  
151 151  * example
152 152  
264 +====== ~[[[top>>doc:]]] ======
265 +
153 153  == {{id name="Ex20"/}}Example 20 ==
154 154  
155 155  * example
269 +
270 +====== ~[[[top>>doc:]]] ======
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