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Last modified by Drunk Monkey on 2023-01-14 05:38
From version 3.1
edited by Drunk Monkey
on 2020-06-27 19:03
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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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4 4  
5 5  == Optimal Trade Entry Primer ==
6 6  
7 +* one of many trading patterns, one of the easiest
8 +* trading plan needs to be simple:
9 +** what's your risk model
10 +** how to frame that?
11 +** what makes your entry
12 +** what gives you indicators of bullish/bearish market?
13 +** how do you execute the trade?
14 +** how do you manage the trade?
15 +** where do you take profits?
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.
19 +** LTF is too noisy to show this detail.
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 +* The impulse move has to incorporate a break in Market Structure.
22 +* Using Fib Retracement as a visual guide, set the following levels
23 +** -1 - Symmetrical Price Swing
24 +** -0.62 - TP2
25 +** -0.27 - TP1
26 +** 0 - First Profit - Scaling
27 +** 0.5 - Equilibrium
28 +** 0.618 - 62% retracement
29 +** 0.705 - OTE 70.5%
30 +** 0.79 - 79%
31 +** 1 - 100%, or likely SL
32 +* OTE (70.5%) is an ideal target.  getting deeper is better, but you run the risk of not filling your order.  62% retracement is also acceptable, but it results in smaller profits because our SL range will be larger, necessitating smaller order sizes to maintain our risk profile.
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 +* Setups on 1h charts better than 5m charts because the pip movements will be larger.
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 +* Note the following:
44 +** institutional levels
45 +** old monthly high at 1.1720 (1.17137 rounded)
46 +** 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"
47 +** the new STH makes for a more likely trade opportunity. (market maker model) and opens up the chance for an OTE.
48 +** 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.
49 +** at the fib, we see price rockets away from a STL
50 +* when old highs/lows are broken, trades will tend to reach back to those old positions (retail calls it "support")
51 +
7 7  == Introduction ==
8 8  
54 +* how to annotate the charts to look for specific price patterns
55 +* 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
56 +*
57 +
9 9  == Example 1 ==
10 10  
60 +* example
61 +
11 11  == Example 2 ==
12 12  
64 +* example
65 +
13 13  == Example 3 ==
14 14  
68 +* example
69 +
15 15  == Example 4 ==
16 16  
72 +* example
73 +
17 17  == Example 5 ==
18 18  
76 +* example
77 +
19 19  == Example 6 ==
20 20  
80 +* example
81 +
21 21  == Example 7 ==
22 22  
84 +* example
85 +
23 23  == Example 8 ==
24 24  
88 +* example
89 +
25 25  == Example 9 ==
26 26  
92 +* example
93 +
27 27  == Example 10 ==
28 28  
96 +* example
97 +
29 29  == Example 11 ==
30 30  
100 +* example
101 +
31 31  == Example 12 ==
32 32  
104 +* example
105 +
33 33  == Example 13 ==
34 34  
108 +* example
109 +
35 35  == Example 14 ==
36 36  
112 +* example
113 +
37 37  == Example 15 ==
38 38  
116 +* example
117 +
39 39  == Example 16 ==
40 40  
120 +* example
121 +
41 41  == Example 17 ==
42 42  
124 +* example
125 +
43 43  == Example 18 ==
44 44  
128 +* example
129 +
45 45  == Example 19 ==
46 46  
132 +* example
133 +
47 47  == Example 20 ==
48 -
135 +
136 +* example
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