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From version 29.1
edited by Drunk Monkey
on 2020-07-06 17:53
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To version 11.1
edited by Drunk Monkey
on 2020-06-28 19:43
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:
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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 -====== ~[[[top>>doc:]]] ======
52 +== Introduction ==
55 55  
56 -== {{id name="Intro"/}}Introduction ==
57 -
58 58  * how to annotate the charts to look for specific price patterns
59 59  * 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
60 -* the pattern should appear every day, but not necessarily on the same pairs
61 -* daily chart - audusd, 20-apr-2020 contains two down candles, showing orderblock
62 -[[image:Screenshot 2020-06-29 at 04.21.46.png]]
63 -
64 -* the two equal lows in May are sensitive to prices in that order block
65 -[[image:Screenshot 2020-06-29 at 04.23.52.png]]
66 -
67 -* we are primarily looking for reactions to the previous days range. (last visible green candle in the picture above)
68 -* can we determine whether the price is going to be able to break the previous days high or low?
69 -[[image:Screenshot 2020-06-29 at 04.50.28.png]]
70 -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.
71 -
72 -* AUDUSD 5M example[[image:Screenshot 2020-06-29 at 04.58.02.png]]
73 -Mark out the previous days high and low.
74 -\\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.
75 -
76 -* 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. 
77 -[[image:Screenshot 2020-06-29 at 05.02.49.png||queryString="width=385&height=579" height="579" width="385"]]
78 -The green box represents the 62 to 79% Fib retracement levels in the OTE pattern
79 -
80 -* The Fib box is drawn from the low to high when the previous days high has been broken.
81 -* Trade
82 -** lot size that allows taking the partials (0.04, take a bit off each time? 
83 -** SL will be set below the 100 level.
84 -** Profit taking
85 -*** take at 1st scaling at -0.5 or 15 pips or more
86 -*** take next at -1.0 or 15 pips or more (or slightly before - round down to the nearest 10 level)
87 -*** take a scaling at 100 pips regardless of where you are
88 -*** take next at -1.5
89 -*** take next at -2.0
90 -*** once price moves beyond the 1st scaling, move the SL up (just beyond BE)
91 -*** 2nd scaling - move SL above SL.
92 -*** other scalings - watch the trades, then set SL beyond BE, not to close so there is room for the trade to run.
93 -*** get out by the last scaling
94 -* Fib settings for Trading View:
95 -[[image:Screenshot 2020-06-29 at 05.10.27.png||queryString="width=363&height=533" height="533" width="363"]]
96 -We could also at -1.5 level
97 -
98 -* key things learned
99 -** when to move a stop
100 -** what entry price to look for
101 -** where stop loss should be
102 -** where do you take partials
103 -** what you avoid doing to your revised stops (choking them out)
56 +*
104 104  
105 -====== ~[[[top>>doc:]]] ======
58 +== Example 1 ==
106 106  
107 -== {{id name="Ex02"/}}Example 2 - USDJPY ==
60 +* example
108 108  
109 -* Daily Chart
110 -[[image:Screenshot 2020-07-07 at 01.38.28.png]]
111 -\\fib drawn from the swing low, to the swing high
112 -
113 -* 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
114 -[[image:Screenshot 2020-07-07 at 01.40.40.png]]
115 -\\Our high is 106.65(7)
116 -
117 -* Dropping into the 5m chart:
118 -[[image:Screenshot 2020-07-07 at 01.43.50.png]]
119 -\\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. 
120 -
121 -* Fib added from the previous low at point 1, to the last recent high at point 2
122 -[[image:Screenshot 2020-07-07 at 01.47.47.png]]
62 +== Example 2 ==
123 123  
124 -====== ~[[[top>>doc:]]] ======
125 -
126 -== {{id name="Ex03"/}}Example 3 ==
127 -
128 128  * example
129 129  
130 -====== ~[[[top>>doc:]]] ======
66 +== Example 3 ==
131 131  
132 -== {{id name="Ex04"/}}Example 4 ==
133 -
134 134  * example
135 135  
136 -====== ~[[[top>>doc:]]] ======
70 +== Example 4 ==
137 137  
138 -== {{id name="Ex05"/}}Example 5 ==
139 -
140 140  * example
141 141  
142 -====== ~[[[top>>doc:]]] ======
74 +== Example 5 ==
143 143  
144 -== {{id name="Ex06"/}}Example 6 ==
145 -
146 146  * example
147 147  
148 -====== ~[[[top>>doc:]]] ======
78 +== Example 6 ==
149 149  
150 -== {{id name="Ex07"/}}Example 7 ==
151 -
152 152  * example
153 153  
154 -====== ~[[[top>>doc:]]] ======
82 +== Example 7 ==
155 155  
156 -== {{id name="Ex08"/}}Example 8 ==
157 -
158 158  * example
159 159  
160 -====== ~[[[top>>doc:]]] ======
86 +== Example 8 ==
161 161  
162 -== {{id name="Ex09"/}}Example 9 ==
163 -
164 164  * example
165 165  
166 -====== ~[[[top>>doc:]]] ======
90 +== Example 9 ==
167 167  
168 -== {{id name="Ex10"/}}Example 10 ==
169 -
170 170  * example
171 171  
172 -====== ~[[[top>>doc:]]] ======
94 +== Example 10 ==
173 173  
174 -== {{id name="Ex11"/}}Example 11 ==
175 -
176 176  * example
177 177  
178 -====== ~[[[top>>doc:]]] ======
98 +== Example 11 ==
179 179  
180 -== {{id name="Ex12"/}}Example 12 ==
181 -
182 182  * example
183 183  
184 -====== ~[[[top>>doc:]]] ======
102 +== Example 12 ==
185 185  
186 -== {{id name="Ex13"/}}Example 13 ==
187 -
188 188  * example
189 189  
190 -====== ~[[[top>>doc:]]] ======
106 +== Example 13 ==
191 191  
192 -== {{id name="Ex14"/}}Example 14 ==
193 -
194 194  * example
195 195  
196 -====== ~[[[top>>doc:]]] ======
110 +== Example 14 ==
197 197  
198 -== {{id name="Ex15"/}}Example 15 ==
199 -
200 200  * example
201 201  
202 -====== ~[[[top>>doc:]]] ======
114 +== Example 15 ==
203 203  
204 -== {{id name="Ex16"/}}Example 16 ==
205 -
206 206  * example
207 207  
208 -====== ~[[[top>>doc:]]] ======
118 +== Example 16 ==
209 209  
210 -== {{id name="Ex17"/}}Example 17 ==
211 -
212 212  * example
213 213  
214 -====== ~[[[top>>doc:]]] ======
122 +== Example 17 ==
215 215  
216 -== {{id name="Ex18"/}}Example 18 ==
217 -
218 218  * example
219 219  
220 -====== ~[[[top>>doc:]]] ======
126 +== Example 18 ==
221 221  
222 -== {{id name="Ex19"/}}Example 19 ==
223 -
224 224  * example
225 225  
226 -====== ~[[[top>>doc:]]] ======
130 +== Example 19 ==
227 227  
228 -== {{id name="Ex20"/}}Example 20 ==
229 -
230 230  * example
231 231  
232 -====== ~[[[top>>doc:]]] ======
134 +== Example 20 ==
233 233  
136 +* example
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