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Last modified by Drunk Monkey on 2023-01-14 05:38
From version 28.1
edited by Drunk Monkey
on 2020-07-06 17:49
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To version 10.1
edited by Drunk Monkey
on 2020-06-28 19:38
Change comment: There is no comment for this version

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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 -* 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)
54 +* sdfg
102 102  
103 -== {{id name="Ex02"/}}Example 2 - USDJPY ==
56 +== Example 1 ==
104 104  
105 -* Daily Chart
106 -[[image:Screenshot 2020-07-07 at 01.38.28.png]]
107 -\\fib drawn from the swing low, to the swing high
108 -
109 -* previous days high (2nd last candle) broke the high from the day before that.  This means we could potentially see a turn, or an expansion to the upside
110 -[[image:Screenshot 2020-07-07 at 01.40.40.png]]
111 -\\Our high is 106.65(7)
112 -
113 -* Dropping into the 5m chart:
114 -[[image:Screenshot 2020-07-07 at 01.43.50.png]]
115 -\\Where do you think the OTE is going to be?  Look before scrolling further.  Remember the magic hours of 08:30 - 11:00 NY time. 
116 -
117 -* Fib added from the previous low at point 1, to the last recent high at point 2
118 -[[image:Screenshot 2020-07-07 at 01.47.47.png]]
58 +* example
119 119  
120 -== {{id name="Ex03"/}}Example 3 ==
60 +== Example 2 ==
121 121  
122 122  * example
123 123  
124 -== {{id name="Ex04"/}}Example 4 ==
64 +== Example 3 ==
125 125  
126 126  * example
127 127  
128 -== {{id name="Ex05"/}}Example 5 ==
68 +== Example 4 ==
129 129  
130 130  * example
131 131  
132 -== {{id name="Ex06"/}}Example 6 ==
72 +== Example 5 ==
133 133  
134 134  * example
135 135  
136 -== {{id name="Ex07"/}}Example 7 ==
76 +== Example 6 ==
137 137  
138 138  * example
139 139  
140 -== {{id name="Ex08"/}}Example 8 ==
80 +== Example 7 ==
141 141  
142 142  * example
143 143  
144 -== {{id name="Ex09"/}}Example 9 ==
84 +== Example 8 ==
145 145  
146 146  * example
147 147  
148 -== {{id name="Ex10"/}}Example 10 ==
88 +== Example 9 ==
149 149  
150 150  * example
151 151  
152 -== {{id name="Ex11"/}}Example 11 ==
92 +== Example 10 ==
153 153  
154 154  * example
155 155  
156 -== {{id name="Ex12"/}}Example 12 ==
96 +== Example 11 ==
157 157  
158 158  * example
159 159  
160 -== {{id name="Ex13"/}}Example 13 ==
100 +== Example 12 ==
161 161  
162 162  * example
163 163  
164 -== {{id name="Ex14"/}}Example 14 ==
104 +== Example 13 ==
165 165  
166 166  * example
167 167  
168 -== {{id name="Ex15"/}}Example 15 ==
108 +== Example 14 ==
169 169  
170 170  * example
171 171  
172 -== {{id name="Ex16"/}}Example 16 ==
112 +== Example 15 ==
173 173  
174 174  * example
175 175  
176 -== {{id name="Ex17"/}}Example 17 ==
116 +== Example 16 ==
177 177  
178 178  * example
179 179  
180 -== {{id name="Ex18"/}}Example 18 ==
120 +== Example 17 ==
181 181  
182 182  * example
183 183  
184 -== {{id name="Ex19"/}}Example 19 ==
124 +== Example 18 ==
185 185  
186 186  * example
187 187  
188 -== {{id name="Ex20"/}}Example 20 ==
128 +== Example 19 ==
189 189  
190 190  * example
131 +
132 +== Example 20 ==
133 +
134 +* example
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