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edited by Drunk Monkey
on 2020-06-28 19:43
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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:
... ... @@ -15,7 +15,7 @@
15 15  ** where do you take profits?
16 16  * what make the market predisposed to go higher or lower?
17 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.
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.
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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 -== {{id name="Intro"/}}Introduction ==
52 +== Introduction ==
55 55  
56 56  * how to annotate the charts to look for specific price patterns
57 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)
56 +*
102 102  
103 -== {{id name="Ex02"/}}Example 2 ==
58 +== Example 1 ==
104 104  
105 105  * example
106 106  
107 -== {{id name="Ex03"/}}Example 3 ==
62 +== Example 2 ==
108 108  
109 109  * example
110 110  
111 -== {{id name="Ex04"/}}Example 4 ==
66 +== Example 3 ==
112 112  
113 113  * example
114 114  
115 -== {{id name="Ex05"/}}Example 5 ==
70 +== Example 4 ==
116 116  
117 117  * example
118 118  
119 -== {{id name="Ex06"/}}Example 6 ==
74 +== Example 5 ==
120 120  
121 121  * example
122 122  
123 -== {{id name="Ex07"/}}Example 7 ==
78 +== Example 6 ==
124 124  
125 125  * example
126 126  
127 -== {{id name="Ex08"/}}Example 8 ==
82 +== Example 7 ==
128 128  
129 129  * example
130 130  
131 -== {{id name="Ex09"/}}Example 9 ==
86 +== Example 8 ==
132 132  
133 133  * example
134 134  
135 -== {{id name="Ex10"/}}Example 10 ==
90 +== Example 9 ==
136 136  
137 137  * example
138 138  
139 -== {{id name="Ex11"/}}Example 11 ==
94 +== Example 10 ==
140 140  
141 141  * example
142 142  
143 -== {{id name="Ex12"/}}Example 12 ==
98 +== Example 11 ==
144 144  
145 145  * example
146 146  
147 -== {{id name="Ex13"/}}Example 13 ==
102 +== Example 12 ==
148 148  
149 149  * example
150 150  
151 -== {{id name="Ex14"/}}Example 14 ==
106 +== Example 13 ==
152 152  
153 153  * example
154 154  
155 -== {{id name="Ex15"/}}Example 15 ==
110 +== Example 14 ==
156 156  
157 157  * example
158 158  
159 -== {{id name="Ex16"/}}Example 16 ==
114 +== Example 15 ==
160 160  
161 161  * example
162 162  
163 -== {{id name="Ex17"/}}Example 17 ==
118 +== Example 16 ==
164 164  
165 165  * example
166 166  
167 -== {{id name="Ex18"/}}Example 18 ==
122 +== Example 17 ==
168 168  
169 169  * example
170 170  
171 -== {{id name="Ex19"/}}Example 19 ==
126 +== Example 18 ==
172 172  
173 173  * example
174 174  
175 -== {{id name="Ex20"/}}Example 20 ==
130 +== Example 19 ==
176 176  
177 177  * example
133 +
134 +== Example 20 ==
135 +
136 +* example
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