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From version 24.1
edited by Drunk Monkey
on 2020-07-06 17:39
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To version 7.1
edited by Drunk Monkey
on 2020-06-28 19:14
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Summary

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2 2  {{toc start="2"/}}
3 3  {{/box}}
4 4  
5 -== {{id name="Primer"/}}Optimal Trade Entry Primer ==
5 +== Optimal Trade Entry Primer ==
6 6  
7 7  * one of many trading patterns, one of the easiest
8 8  * trading plan needs to be simple:
... ... @@ -14,8 +14,8 @@
14 14  ** how do you manage the trade?
15 15  ** where do you take profits?
16 16  * what make the market predisposed to go higher or lower?
17 -** look at HTF (M, W, D, 4h) and look for key levels where price has moved away from in the past
18 -** HTF shows where the big players are most likely going to push things around.
17 +** ​​​​​​​look at HTF (M, W, D, 4h) and look for key levels where price has moved away from in the past
18 +** HTF shows where the big players are most likely going to push things around.
19 19  ** LTF is too noisy to show this detail.
20 20  * Assuming bullish market, we are looking for where the market wants to trade higher.  OTE is based on buying during the retracements that occur before the further push upwards.
21 21  * The impulse move has to incorporate a break in Market Structure.
... ... @@ -33,145 +33,47 @@
33 33  * First Scaling, or slightly before, represents the place to take initial profits.  It should be a decent return, preferable better than 1:2 risk/reward, but slightly less than 2 (1.5? 1x75?) is also acceptable.
34 34  * Setups on 1h charts better than 5m charts because the pip movements will be larger.
35 35  * Key levels xxx.00, xxx.20, xxx.50, xxx.80, yyy.00
36 -* Place the fibs on the body of the candles
37 -* Market structure - example given:
38 -- monthly view
39 -[[image:Screenshot 2020-06-29 at 03.11.56.png]]
40 -\\- daily view
41 -[[image:Screenshot 2020-06-29 at 03.14.02.png]]
42 -\\- 15m view[[image:Screenshot 2020-06-29 at 03.06.46.png]]
43 -
44 -* Note the following:
45 -** institutional levels
46 -** old monthly high at 1.1720 (1.17137 rounded)
47 -** price runs down until it hits the 20 level (1.1720), rallies and creates a new short term high (old - middle red line, new STH, top red line. It's also called a "market structure break"
48 -** the new STH makes for a more likely trade opportunity. (market maker model) and opens up the chance for an OTE.
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 -** at the fib, we see price rockets away from a STL
51 -
52 -* when old highs/lows are broken, trades will tend to reach back to those old positions (retail calls it "support")
53 53  
54 -== {{id name="Intro"/}}Introduction ==
37 +== Introduction ==
55 55  
56 -* how to annotate the charts to look for specific price patterns
57 -* 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
58 -* the pattern should appear every day, but not necessarily on the same pairs
59 -* daily chart - audusd, 20-apr-2020 contains two down candles, showing orderblock
60 -[[image:Screenshot 2020-06-29 at 04.21.46.png]]
61 -
62 -* the two equal lows in May are sensitive to prices in that order block
63 -[[image:Screenshot 2020-06-29 at 04.23.52.png]]
64 -
65 -* we are primarily looking for reactions to the previous days range. (last visible green candle in the picture above)
66 -* can we determine whether the price is going to be able to break the previous days high or low?
67 -[[image:Screenshot 2020-06-29 at 04.50.28.png]]
68 -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.
69 -
70 -* AUDUSD 5M example[[image:Screenshot 2020-06-29 at 04.58.02.png]]
71 -Mark out the previous days high and low.
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 -
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"]]
76 -The green box represents the 62 to 79% Fib retracement levels in the OTE pattern
77 -
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 -
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)
39 +== Example 1 ==
102 102  
103 -== {{id name="Ex02"/}}Example 2 ==
41 +== Example 2 ==
104 104  
105 -* example
43 +== Example 3 ==
106 106  
107 -== {{id name="Ex03"/}}Example 3 ==
45 +== Example 4 ==
108 108  
109 -* example
47 +== Example 5 ==
110 110  
111 -== {{id name="Ex04"/}}Example 4 ==
49 +== Example 6 ==
112 112  
113 -* example
51 +== Example 7 ==
114 114  
115 -== {{id name="Ex05"/}}Example 5 ==
53 +== Example 8 ==
116 116  
117 -* example
55 +== Example 9 ==
118 118  
119 -== {{id name="Ex06"/}}Example 6 ==
57 +== Example 10 ==
120 120  
121 -* example
59 +== Example 11 ==
122 122  
123 -== {{id name="Ex07"/}}Example 7 ==
61 +== Example 12 ==
124 124  
125 -* example
63 +== Example 13 ==
126 126  
127 -== {{id name="Ex08"/}}Example 8 ==
65 +== Example 14 ==
128 128  
129 -* example
67 +== Example 15 ==
130 130  
131 -== {{id name="Ex09"/}}Example 9 ==
69 +== Example 16 ==
132 132  
133 -* example
71 +== Example 17 ==
134 134  
135 -== {{id name="Ex10"/}}Example 10 ==
73 +== Example 18 ==
136 136  
137 -* example
75 +== Example 19 ==
138 138  
139 -== {{id name="Ex11"/}}Example 11 ==
77 +== Example 20 ==
140 140  
141 -* example
142 -
143 -== {{id name="Ex12"/}}Example 12 ==
144 -
145 -* example
146 -
147 -== {{id name="Ex13"/}}Example 13 ==
148 -
149 -* example
150 -
151 -== {{id name="Ex14"/}}Example 14 ==
152 -
153 -* example
154 -
155 -== {{id name="Ex15"/}}Example 15 ==
156 -
157 -* example
158 -
159 -== {{id name="Ex16"/}}Example 16 ==
160 -
161 -* example
162 -
163 -== {{id name="Ex17"/}}Example 17 ==
164 -
165 -* example
166 -
167 -== {{id name="Ex18"/}}Example 18 ==
168 -
169 -* example
170 -
171 -== {{id name="Ex19"/}}Example 19 ==
172 -
173 -* example
174 -
175 -== {{id name="Ex20"/}}Example 20 ==
176 -
177 -* example
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