Changes for page OTE Pattern Recognition Notes

Last modified by Drunk Monkey on 2023-01-14 05:38

From 18.1 to 17.1 From 32.1 to 31.1

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31.1

edited by Drunk Monkey
on 2020-07-06 18:10

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18.1

edited by Drunk Monkey
on 2020-06-28 21:03

Change comment: Uploaded new attachment "Screenshot 2020-06-29 at 05.02.49.png", version {1}

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@@ -1,5 +1,5 @@
  {{box cssClass="box floatinginfobox" title="**Quick Links**"}}
--{{toc start="2" depth="5" numbered="true"/}}
++{{toc start="2"/}}
  {{/box}}
  == {{id name="Primer"/}}Optimal Trade Entry Primer ==
@@ -40,7 +40,6 @@
  \\- daily view
  [[image:Screenshot 2020-06-29 at 03.14.02.png]]
  \\- 15m view[[image:Screenshot 2020-06-29 at 03.06.46.png]]
--
  * Note the following:
  ** institutional levels
  ** old monthly high at 1.1720 (1.17137 rounded)
@@ -48,185 +48,90 @@
  ** the new STH makes for a more likely trade opportunity. (market maker model) and opens up the chance for an OTE.
  ** 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.
  ** at the fib, we see price rockets away from a STL
--
  * when old highs/lows are broken, trades will tend to reach back to those old positions (retail calls it "support")
--====== ~[[[top>>doc:]]] ======
--
  == {{id name="Intro"/}}Introduction ==
  * how to annotate the charts to look for specific price patterns
  * 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
--* the pattern should appear every day, but not necessarily on the same pairs
--* daily chart - audusd, 20-apr-2020 contains two down candles, showing orderblock
--[[image:Screenshot 2020-06-29 at 04.21.46.png]]
--
--* the two equal lows in May are sensitive to prices in that order block
--[[image:Screenshot 2020-06-29 at 04.23.52.png]]
--
--* we are primarily looking for reactions to the previous days range. (last visible green candle in the picture above)
--* can we determine whether the price is going to be able to break the previous days high or low?
--[[image:Screenshot 2020-06-29 at 04.50.28.png]]
--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.
--
--* AUDUSD 5M example[[image:Screenshot 2020-06-29 at 04.58.02.png]]
--Mark out the previous days high and low.
--\\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.
--
--* 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.
--[[image:Screenshot 2020-06-29 at 05.02.49.png||queryString="width=385&height=579" height="579" width="385"]]
--The green box represents the 62 to 79% Fib retracement levels in the OTE pattern
--
--* The Fib box is drawn from the low to high when the previous days high has been broken.
--* Trade
--** lot size that allows taking the partials (0.04, take a bit off each time?
--** SL will be set below the 100 level.
--** Profit taking
--*** take at 1st scaling at -0.5 or 15 pips or more
--*** take next at -1.0 or 15 pips or more (or slightly before - round down to the nearest 10 level)
--*** take a scaling at 100 pips regardless of where you are
--*** take next at -1.5
--*** take next at -2.0
--*** once price moves beyond the 1st scaling, move the SL up (just beyond BE)
--*** 2nd scaling - move SL above SL.
--*** other scalings - watch the trades, then set SL beyond BE, not to close so there is room for the trade to run.
--*** get out by the last scaling
--* Fib settings for Trading View:
--[[image:Screenshot 2020-06-29 at 05.10.27.png||queryString="width=363&height=533" height="533" width="363"]]
--We could also at -1.5 level
--
--* key things learned
--** when to move a stop
--** what entry price to look for
--** where stop loss should be
--** where do you take partials
--** what you avoid doing to your revised stops (choking them out)
++*
--====== ~[[[top>>doc:]]] ======
++== {{id name="Ex01"/}}Example 1 ==
--== {{id name="Ex02"/}}Example 2 - USDJPY ==
++* example
--* Daily Chart
--[[image:Screenshot 2020-07-07 at 01.38.28.png]]
--\\fib drawn from the swing low, to the swing high
--
--* 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
--[[image:Screenshot 2020-07-07 at 01.40.40.png]]
--\\Our high is 106.65(7)
--
--* Dropping into the 5m chart:
--[[image:Screenshot 2020-07-07 at 01.43.50.png]]
--\\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.
--
--* Fib added from the previous low at point 1, to the last recent high at point 2
--[[image:Screenshot 2020-07-07 at 01.47.47.png]]
++== {{id name="Ex02"/}}Example 2 ==
--====== ~[[[top>>doc:]]] ======
++* example
  == {{id name="Ex03"/}}Example 3 ==
  * example
--====== ~[[[top>>doc:]]] ======
--
  == {{id name="Ex04"/}}Example 4 ==
  * example
--====== ~[[[top>>doc:]]] ======
--
  == {{id name="Ex05"/}}Example 5 ==
  * example
--====== ~[[[top>>doc:]]] ======
--
  == {{id name="Ex06"/}}Example 6 ==
  * example
--====== ~[[[top>>doc:]]] ======
--
  == {{id name="Ex07"/}}Example 7 ==
  * example
--====== ~[[[top>>doc:]]] ======
--
  == {{id name="Ex08"/}}Example 8 ==
  * example
--====== ~[[[top>>doc:]]] ======
--
  == {{id name="Ex09"/}}Example 9 ==
  * example
--====== ~[[[top>>doc:]]] ======
--
  == {{id name="Ex10"/}}Example 10 ==
  * example
--====== ~[[[top>>doc:]]] ======
--
  == {{id name="Ex11"/}}Example 11 ==
  * example
--====== ~[[[top>>doc:]]] ======
--
  == {{id name="Ex12"/}}Example 12 ==
  * example
--====== ~[[[top>>doc:]]] ======
--
  == {{id name="Ex13"/}}Example 13 ==
  * example
--====== ~[[[top>>doc:]]] ======
--
  == {{id name="Ex14"/}}Example 14 ==
  * example
--====== ~[[[top>>doc:]]] ======
--
  == {{id name="Ex15"/}}Example 15 ==
  * example
--====== ~[[[top>>doc:]]] ======
--
  == {{id name="Ex16"/}}Example 16 ==
  * example
--====== ~[[[top>>doc:]]] ======
--
  == {{id name="Ex17"/}}Example 17 ==
  * example
--====== ~[[[top>>doc:]]] ======
--
  == {{id name="Ex18"/}}Example 18 ==
  * example
--====== ~[[[top>>doc:]]] ======
--
  == {{id name="Ex19"/}}Example 19 ==
  * example
--====== ~[[[top>>doc:]]] ======
--
  == {{id name="Ex20"/}}Example 20 ==
  * example
--
--====== ~[[[top>>doc:]]] ======

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