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edited by Drunk Monkey
on 2020-07-06 18:22
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edited by Drunk Monkey
on 2020-09-08 15:44
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51 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:]]] ======
54 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
55 55  
56 -== {{id name="Intro"/}}Introduction ==
56 +== {{id name="Intro"/}}Introduction - AUDUSD ==
57 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
... ... @@ -102,7 +102,7 @@
102 102  ** where do you take partials
103 103  ** what you avoid doing to your revised stops (choking them out)
104 104  
105 -====== ~[[[top>>doc:]]] ======
105 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
106 106  
107 107  == {{id name="Ex02"/}}Example 2 - USDJPY ==
108 108  
... ... @@ -120,113 +120,193 @@
120 120  
121 121  * Fib added from the previous low at point 1, to the last recent high at point 2
122 122  [[image:Screenshot 2020-07-07 at 01.47.47.png]]
123 +
124 +* Trading View chart, 15m
125 +[[image:Screenshot 2020-07-07 at 02.10.10.png]]
126 +
127 +* On the above chart is a second OTE occurring just after the OTE period opening
128 +[[image:Screenshot 2020-07-07 at 02.19.10.png]]
129 +\\From the swing low, to the new high breaking the previous high.  The OTE opportunity crosses the weekend.  
130 +
131 +* 5m chart view
132 +[[image:Screenshot 2020-07-07 at 02.22.17.png||queryString="width=591&height=819" height="819" width="591"]]
133 +\\the recent low marked, right side showing the new high forming the OTE pattern.
123 123  
124 -====== ~[[[top>>doc:]]] ======
135 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
125 125  
126 -== {{id name="Ex03"/}}Example 3 ==
137 +== {{id name="Ex03"/}}Example 3 - S&P 500 E-Mini Futures (June 2020) ==
127 127  
128 -* example
139 +* Daily Chart
140 +[[image:Screenshot 2020-07-07 at 02.43.11.jpg]]
141 +
142 +* currently inside of an OTE 
143 +[[image:Screenshot 2020-07-07 at 02.46.32.jpg||height="696" width="687"]]
144 +\\The fib provides a framework - old low, old high, retracement back to the 79 level.  On the daily chart, the momentum is likely to go higher.  It could be reaching for the old high, it could break through, or it could fail.  It doesn't matter.
145 +\\What we do care is that it is likely to run the previous day's high.
146 +
147 +* Previous day's high marked
148 +[[image:Screenshot 2020-07-07 at 02.53.30.jpg||height="167" width="848"]]
149 +
150 +* 5m chart
151 +[[image:Screenshot 2020-07-07 at 03.24.45.jpg]]
152 +
153 +* Marked up
154 +[[image:Screenshot 2020-07-07 at 03.28.25.jpg]]
155 +\\The "big figure" is 2900.  Price has traded down into that during the NY session.  Whenever a big figure is swept, either down into, or up into, it generally creates a tradeable bounce or retracement, even if it is very short lived. 
156 +
157 +* Focus on the NY session time to find the OTE
158 +[[image:Screenshot 2020-07-07 at 03.31.40.jpg||height="417" width="313"]]
159 +
160 +* OTE marked
161 +[[image:Screenshot 2020-07-07 at 03.34.05.jpg||height="850" width="775"]]
162 +
163 +* and here is how it played out
164 +[[image:Screenshot 2020-07-07 at 03.36.45.jpg]]
165 +\\In this example, the market tends to want to gravitate towards the old high because the market is bullish, and will catch out the market short sellers.
166 +
129 129  
130 -====== ~[[[top>>doc:]]] ======
168 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
131 131  
132 -== {{id name="Ex04"/}}Example 4 ==
170 +== {{id name="Ex04"/}}Example 4 - GBPUSD ==
133 133  
134 -* example
172 +* 1H chart
173 +[[image:Screenshot 2020-07-07 at 04.22.04.jpg]]
174 +
175 +* Marked up using "support and resistance" paradigm. Note that this is a retail trading mindset and it is wrong.
176 +[[image:Screenshot 2020-07-07 at 04.31.28.jpg]]
177 +\\Again.  Wrong.
178 +
179 +* ICT Markup - [Market Efficiency Paradigm] (link to definition later)
180 +[[image:Screenshot 2020-07-07 at 04.34.19.jpg]]
181 +\\It's basically the narrative of why price goes where it does and why it reacts the way it does when it gets there and where it is reaching to next.  The ICT Bearish Breaker cuts to the whole narrative immediately. 
182 +\\Why?  You want to look at price and look for areas where they run an old high because above that is going to be buy stops.  And this is buy side liquidity.  This could be in the form of buy stops for new long entries, or stops protecting existing shorts.
183 +\\The big candle to the right runs through that zone to gather the liquidity.  Also, ICT calls this candle pattern a "Judus Swing" because it's a fake move because it appears to signal a bullish move.
184 +\\When we see these sharp runs that that run previous highs/lows, it's highly suspect to ICT.  If we get back down below the lowest down candle (ICT Bearish Breaker), breaking that low (which it does in the 3-6am bull candles above), the narrative changes to Bearish.
185 +\\So what we do is go to that Breaker, draw the line out in time and then you'll be able to see the real turning point, or the real support/resistance level if you like.  Look at the 7-9am candles on the right where it touches the 1.2371 line.
186 +
187 +* This provides the narrative behind finding and OTE with this structure in place.  It can occur in a trendless market environment, and doesn't have to have a bullish or bearish trend on the daily chart, so go into the lower timeframes.
188 +
189 +* 1h chart marked up showing the previous days low as our highlighted candle is a ICT Bearish Breaker and tends to indicate that we are going for new lows and it is likely we will target the previous days low.
190 +[[image:Screenshot 2020-07-07 at 04.59.43.jpg]]
191 +\\The new ICT bearish breaker is highlighted in the pink box.
192 +
193 +* 5m with the NY Session highlighted
194 +[[image:Screenshot 2020-07-07 at 05.01.46.jpg]]
195 +\\
196 +* and here is the OTE Fib marked.
197 +[[image:Screenshot 2020-07-07 at 05.04.42.jpg]]
198 +\\stops will be above the 1.0 point
199 +\\We see the high, down to the low, and then the price returning to the OTE where we can fill our order.  Our -2 level is the 1.23 big level and the institutions reaching for the old lows and the liquidity that can be found there.
200 +
201 +* Also note, that we have not yet taken our previous days lows, so there is a second possible OTE entry.  The price starts to retrace at at 11am - which is just outside of our session window, but still acceptable.  So, place the fib and see if this retracement suggests a trade
202 +
203 +* Fib placed
204 +[[image:Screenshot 2020-07-07 at 05.17.16.jpg]]
205 +\\We see the high, low, the retracement into the 62 OTE region and we'll be targeting the previous days low with a short.  The stop would be above the high
206 +\\Our targets: 
207 +- 1.2282 - 1.2283 for our 0.5 level
208 +- 1.2265 for our 1.0 level, or we could target the 1.227 level as a more likely target rather than getting a full fib.
209 +\\We're rounding down our numbers and being content with not being too greedy so we don't make a winning trade a losing one.
210 +
211 +* Results:
212 +[[image:Screenshot 2020-07-07 at 05.25.06.jpg]]
213 +\\\\0.5 taken.  1.0 taken.
214 +
135 135  
136 -====== ~[[[top>>doc:]]] ======
216 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
137 137  
138 138  == {{id name="Ex05"/}}Example 5 ==
139 139  
140 140  * example
141 141  
142 -====== ~[[[top>>doc:]]] ======
222 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
143 143  
144 144  == {{id name="Ex06"/}}Example 6 ==
145 145  
146 146  * example
147 147  
148 -====== ~[[[top>>doc:]]] ======
228 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
149 149  
150 150  == {{id name="Ex07"/}}Example 7 ==
151 151  
152 152  * example
153 153  
154 -====== ~[[[top>>doc:]]] ======
234 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
155 155  
156 156  == {{id name="Ex08"/}}Example 8 ==
157 157  
158 158  * example
159 159  
160 -====== ~[[[top>>doc:]]] ======
240 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
161 161  
162 162  == {{id name="Ex09"/}}Example 9 ==
163 163  
164 164  * example
165 165  
166 -====== ~[[[top>>doc:]]] ======
246 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
167 167  
168 168  == {{id name="Ex10"/}}Example 10 ==
169 169  
170 170  * example
171 171  
172 -====== ~[[[top>>doc:]]] ======
252 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
173 173  
174 174  == {{id name="Ex11"/}}Example 11 ==
175 175  
176 176  * example
177 177  
178 -====== ~[[[top>>doc:]]] ======
258 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
179 179  
180 180  == {{id name="Ex12"/}}Example 12 ==
181 181  
182 182  * example
183 183  
184 -====== ~[[[top>>doc:]]] ======
264 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
185 185  
186 186  == {{id name="Ex13"/}}Example 13 ==
187 187  
188 188  * example
189 189  
190 -====== ~[[[top>>doc:]]] ======
270 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
191 191  
192 192  == {{id name="Ex14"/}}Example 14 ==
193 193  
194 194  * example
195 195  
196 -====== ~[[[top>>doc:]]] ======
276 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
197 197  
198 198  == {{id name="Ex15"/}}Example 15 ==
199 199  
200 200  * example
201 201  
202 -====== ~[[[top>>doc:]]] ======
282 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
203 203  
204 204  == {{id name="Ex16"/}}Example 16 ==
205 205  
206 206  * example
207 207  
208 -====== ~[[[top>>doc:]]] ======
288 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
209 209  
210 210  == {{id name="Ex17"/}}Example 17 ==
211 211  
212 212  * example
213 213  
214 -====== ~[[[top>>doc:]]] ======
294 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
215 215  
216 216  == {{id name="Ex18"/}}Example 18 ==
217 217  
218 218  * example
219 219  
220 -====== ~[[[top>>doc:]]] ======
300 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
221 221  
222 222  == {{id name="Ex19"/}}Example 19 ==
223 223  
224 224  * example
225 225  
226 -====== ~[[[top>>doc:]]] ======
306 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
227 227  
228 228  == {{id name="Ex20"/}}Example 20 ==
229 229  
230 230  * example
231 231  
232 -====== ~[[[top>>doc:]]] ======
312 +====== ~[[[top>>doc:Forex.The Inner Circle Trader.OTE Pattern Recognition Notes.WebHome]]] ======
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