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Last modified by Drunk Monkey on 2023-01-14 05:38
From version 21.1
edited by Drunk Monkey
on 2020-06-29 19:21
Change comment: There is no comment for this version
To version 18.1
edited by Drunk Monkey
on 2020-06-28 21:03
Change comment: Uploaded new attachment "Screenshot 2020-06-29 at 05.02.49.png", version {1}

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53 53  
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 -* the pattern should appear every day, but not necessarily on the same pairs
57 -* daily chart - audusd, 20-apr-2020 contains two down candles, showing orderblock
58 -[[image:Screenshot 2020-06-29 at 04.21.46.png]]
59 -
60 -* the two equal lows in May are sensitive to prices in that order block
61 -[[image:Screenshot 2020-06-29 at 04.23.52.png]]
62 -
63 -* we are primarily looking for reactions to the previous days range. (last visible green candle in the picture above)
64 -* can we determine whether the price is going to be able to break the previous days high or low?
65 -[[image:Screenshot 2020-06-29 at 04.50.28.png]]
66 -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.
67 -
68 -* AUDUSD 5M example[[image:Screenshot 2020-06-29 at 04.58.02.png]]
69 -Mark out the previous days high and low.
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 -
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||queryString="width=385&height=579" height="579" width="385"]]
74 -The green box represents the 62 to 79% Fib retracement levels in the OTE pattern
75 -
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 next at -1.5
84 -*** take next at -2.0
85 -*** once price moves beyond the 1st scaling, move the SL up (just beyond BE)
86 -*** 2nd scaling - move SL above SL.
87 -*** other scalings - watch the trades, then set SL beyond BE, not to close so there is room for the trade to run.
88 -*** get out by the last scaling
89 -* Fib settings for Trading View:
90 -[[image:Screenshot 2020-06-29 at 05.10.27.png||queryString="width=363&height=533" height="533" width="363"]]
91 -We could also at -1.5 level
92 -
93 93  *
94 94  
58 +== {{id name="Ex01"/}}Example 1 ==
59 +
60 +* example
61 +
95 95  == {{id name="Ex02"/}}Example 2 ==
96 96  
97 97  * example
Screenshot 2020-06-29 at 05.10.27.png
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