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Last modified by Drunk Monkey on 2023-01-14 05:38
From version 31.1
edited by Drunk Monkey
on 2020-07-06 18:10
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To version 19.2
edited by Drunk Monkey
on 2020-06-28 21:43
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1 1  {{box cssClass="box floatinginfobox" title="**Quick Links**"}}
2 -{{toc start="2" depth="5" numbered="true"/}}
2 +{{toc start="2"/}}
3 3  {{/box}}
4 4  
5 5  == {{id name="Primer"/}}Optimal Trade Entry Primer ==
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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:]]] ======
55 -
56 56  == {{id name="Intro"/}}Introduction ==
57 57  
58 58  * how to annotate the charts to look for specific price patterns
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74 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 75  
76 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"]]
73 +[[image:Screenshot 2020-06-29 at 05.02.49.png||height="579" width="385"]]
78 78  The green box represents the 62 to 79% Fib retracement levels in the OTE pattern
79 79  
80 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 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)
78 +* Fib settings for Trading View
79 +[[image:Screenshot 2020-06-29 at 05.10.27.png||height="533" width="363"]]
104 104  
105 -====== ~[[[top>>doc:]]] ======
81 +== {{id name="Ex02"/}}Example 2 ==
106 106  
107 -== {{id name="Ex02"/}}Example 2 - USDJPY ==
83 +* 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]]
123 -
124 -====== ~[[[top>>doc:]]] ======
125 -
126 126  == {{id name="Ex03"/}}Example 3 ==
127 127  
128 128  * example
129 129  
130 -====== ~[[[top>>doc:]]] ======
131 -
132 132  == {{id name="Ex04"/}}Example 4 ==
133 133  
134 134  * example
135 135  
136 -====== ~[[[top>>doc:]]] ======
137 -
138 138  == {{id name="Ex05"/}}Example 5 ==
139 139  
140 140  * example
141 141  
142 -====== ~[[[top>>doc:]]] ======
143 -
144 144  == {{id name="Ex06"/}}Example 6 ==
145 145  
146 146  * example
147 147  
148 -====== ~[[[top>>doc:]]] ======
149 -
150 150  == {{id name="Ex07"/}}Example 7 ==
151 151  
152 152  * example
153 153  
154 -====== ~[[[top>>doc:]]] ======
155 -
156 156  == {{id name="Ex08"/}}Example 8 ==
157 157  
158 158  * example
159 159  
160 -====== ~[[[top>>doc:]]] ======
161 -
162 162  == {{id name="Ex09"/}}Example 9 ==
163 163  
164 164  * example
165 165  
166 -====== ~[[[top>>doc:]]] ======
167 -
168 168  == {{id name="Ex10"/}}Example 10 ==
169 169  
170 170  * example
171 171  
172 -====== ~[[[top>>doc:]]] ======
173 -
174 174  == {{id name="Ex11"/}}Example 11 ==
175 175  
176 176  * example
177 177  
178 -====== ~[[[top>>doc:]]] ======
179 -
180 180  == {{id name="Ex12"/}}Example 12 ==
181 181  
182 182  * example
183 183  
184 -====== ~[[[top>>doc:]]] ======
185 -
186 186  == {{id name="Ex13"/}}Example 13 ==
187 187  
188 188  * example
189 189  
190 -====== ~[[[top>>doc:]]] ======
191 -
192 192  == {{id name="Ex14"/}}Example 14 ==
193 193  
194 194  * example
195 195  
196 -====== ~[[[top>>doc:]]] ======
197 -
198 198  == {{id name="Ex15"/}}Example 15 ==
199 199  
200 200  * example
201 201  
202 -====== ~[[[top>>doc:]]] ======
203 -
204 204  == {{id name="Ex16"/}}Example 16 ==
205 205  
206 206  * example
207 207  
208 -====== ~[[[top>>doc:]]] ======
209 -
210 210  == {{id name="Ex17"/}}Example 17 ==
211 211  
212 212  * example
213 213  
214 -====== ~[[[top>>doc:]]] ======
215 -
216 216  == {{id name="Ex18"/}}Example 18 ==
217 217  
218 218  * example
219 219  
220 -====== ~[[[top>>doc:]]] ======
221 -
222 222  == {{id name="Ex19"/}}Example 19 ==
223 223  
224 224  * example
225 225  
226 -====== ~[[[top>>doc:]]] ======
227 -
228 228  == {{id name="Ex20"/}}Example 20 ==
229 229  
230 230  * example
231 -
232 -====== ~[[[top>>doc:]]] ======
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