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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 26.1
edited by Drunk Monkey
on 2020-07-06 17:44
Change comment: Uploaded new attachment "Screenshot 2020-07-07 at 01.43.50.png", version {1}

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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 52  == {{id name="Intro"/}}Introduction ==
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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"]]
75 +[[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.
79 +* Trade
80 +** lot size that allows taking the partials (0.04, take a bit off each time? 
81 +** SL will be set below the 100 level.
82 +** Profit taking
83 +*** take at 1st scaling at -0.5 or 15 pips or more
84 +*** take next at -1.0 or 15 pips or more (or slightly before - round down to the nearest 10 level)
85 +*** take a scaling at 100 pips regardless of where you are
86 +*** take next at -1.5
87 +*** take next at -2.0
88 +*** once price moves beyond the 1st scaling, move the SL up (just beyond BE)
89 +*** 2nd scaling - move SL above SL.
90 +*** other scalings - watch the trades, then set SL beyond BE, not to close so there is room for the trade to run.
91 +*** get out by the last scaling
92 +* Fib settings for Trading View:
93 +[[image:Screenshot 2020-06-29 at 05.10.27.png||queryString="width=363&height=533" height="533" width="363"]]
94 +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"]]
96 +* key things learned
97 +** when to move a stop
98 +** what entry price to look for
99 +** where stop loss should be
100 +** where do you take partials
101 +** what you avoid doing to your revised stops (choking them out)
80 80  
81 81  == {{id name="Ex02"/}}Example 2 ==
82 82  
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