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Last modified by Drunk Monkey on 2023-01-14 05:38
From version 20.1
edited by Drunk Monkey
on 2020-06-28 21:43
Change comment: There is no comment for this version
To version 21.2
edited by Drunk Monkey
on 2020-06-29 20:17
Change comment: There is no comment for this version

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... ... @@ -70,13 +70,33 @@
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"]]
73 +[[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.
77 +* Trade
78 +** lot size that allows taking the partials (0.04, take a bit off each time? 
79 +** SL will be set below the 100 level.
80 +** Profit taking
81 +*** take at 1st scaling at -0.5 or 15 pips or more
82 +*** take next at -1.0 or 15 pips or more (or slightly before - round down to the nearest 10 level)
83 +*** take a scaling at 100 pips regardless of where you are
84 +*** take next at -1.5
85 +*** take next at -2.0
86 +*** once price moves beyond the 1st scaling, move the SL up (just beyond BE)
87 +*** 2nd scaling - move SL above SL.
88 +*** other scalings - watch the trades, then set SL beyond BE, not to close so there is room for the trade to run.
89 +*** get out by the last scaling
90 +* Fib settings for Trading View:
91 +[[image:Screenshot 2020-06-29 at 05.10.27.png||queryString="width=363&height=533" height="533" width="363"]]
92 +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"]]
94 +* key things learned
95 +** when to move a stop
96 +** what entry price to look for
97 +** where stop loss should be
98 +** where do you take partials
99 +** what you avoid doing to your revised stops (choking them out)
80 80  
81 81  == {{id name="Ex02"/}}Example 2 ==
82 82