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Last modified by Drunk Monkey on 2023-01-14 05:38
From version 24.1
edited by Drunk Monkey
on 2020-07-06 17:39
Change comment: Uploaded new attachment "Screenshot 2020-07-07 at 01.38.28.png", version {1}
To version 19.2
edited by Drunk Monkey
on 2020-06-28 21:43
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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 -
44 44  * Note the following:
45 45  ** institutional levels
46 46  ** old monthly high at 1.1720 (1.17137 rounded)
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48 48  ** the new STH makes for a more likely trade opportunity. (market maker model) and opens up the chance for an OTE.
49 49  ** 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.
50 50  ** at the fib, we see price rockets away from a STL
51 -
52 52  * when old highs/lows are broken, trades will tend to reach back to those old positions (retail calls it "support")
53 53  
54 54  == {{id name="Intro"/}}Introduction ==
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72 72  \\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.
73 73  
74 74  * 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. 
75 -[[image:Screenshot 2020-06-29 at 05.02.49.png||queryString="width=385&height=579" height="579" width="385"]]
73 +[[image:Screenshot 2020-06-29 at 05.02.49.png||height="579" width="385"]]
76 76  The green box represents the 62 to 79% Fib retracement levels in the OTE pattern
77 77  
78 78  * 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
95 95  
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)
78 +* Fib settings for Trading View
79 +[[image:Screenshot 2020-06-29 at 05.10.27.png||height="533" width="363"]]
102 102  
103 103  == {{id name="Ex02"/}}Example 2 ==
104 104  
Screenshot 2020-07-07 at 01.38.28.png
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