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Last modified by Drunk Monkey on 2023-01-14 05:38
From version 36.2
edited by Drunk Monkey
on 2020-07-06 18:37
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To version 12.1
edited by Drunk Monkey
on 2020-06-28 19:47
Change comment: There is no comment for this version

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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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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:]]] ======
55 -
56 56  == {{id name="Intro"/}}Introduction ==
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
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 +== {{id name="Ex01"/}}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]]
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"]]
62 +== {{id name="Ex02"/}}Example 2 ==
133 133  
134 -====== ~[[[top>>doc:]]] ======
64 +* example
135 135  
136 -== {{id name="Ex03"/}}Example 3 - S&P 500 E-Mini Futures (June 2020) ==
66 +== {{id name="Ex03"/}}Example 3 ==
137 137  
138 138  * example
139 139  
140 -====== ~[[[top>>doc:]]] ======
141 -
142 142  == {{id name="Ex04"/}}Example 4 ==
143 143  
144 144  * example
145 145  
146 -====== ~[[[top>>doc:]]] ======
147 -
148 148  == {{id name="Ex05"/}}Example 5 ==
149 149  
150 150  * example
151 151  
152 -====== ~[[[top>>doc:]]] ======
153 -
154 154  == {{id name="Ex06"/}}Example 6 ==
155 155  
156 156  * example
157 157  
158 -====== ~[[[top>>doc:]]] ======
159 -
160 160  == {{id name="Ex07"/}}Example 7 ==
161 161  
162 162  * example
163 163  
164 -====== ~[[[top>>doc:]]] ======
165 -
166 166  == {{id name="Ex08"/}}Example 8 ==
167 167  
168 168  * example
169 169  
170 -====== ~[[[top>>doc:]]] ======
171 -
172 172  == {{id name="Ex09"/}}Example 9 ==
173 173  
174 174  * example
175 175  
176 -====== ~[[[top>>doc:]]] ======
177 -
178 178  == {{id name="Ex10"/}}Example 10 ==
179 179  
180 180  * example
181 181  
182 -====== ~[[[top>>doc:]]] ======
183 -
184 184  == {{id name="Ex11"/}}Example 11 ==
185 185  
186 186  * example
187 187  
188 -====== ~[[[top>>doc:]]] ======
189 -
190 190  == {{id name="Ex12"/}}Example 12 ==
191 191  
192 192  * example
193 193  
194 -====== ~[[[top>>doc:]]] ======
195 -
196 196  == {{id name="Ex13"/}}Example 13 ==
197 197  
198 198  * example
199 199  
200 -====== ~[[[top>>doc:]]] ======
201 -
202 202  == {{id name="Ex14"/}}Example 14 ==
203 203  
204 204  * example
205 205  
206 -====== ~[[[top>>doc:]]] ======
207 -
208 208  == {{id name="Ex15"/}}Example 15 ==
209 209  
210 210  * example
211 211  
212 -====== ~[[[top>>doc:]]] ======
213 -
214 214  == {{id name="Ex16"/}}Example 16 ==
215 215  
216 216  * example
217 217  
218 -====== ~[[[top>>doc:]]] ======
219 -
220 220  == {{id name="Ex17"/}}Example 17 ==
221 221  
222 222  * example
223 223  
224 -====== ~[[[top>>doc:]]] ======
225 -
226 226  == {{id name="Ex18"/}}Example 18 ==
227 227  
228 228  * example
229 229  
230 -====== ~[[[top>>doc:]]] ======
231 -
232 232  == {{id name="Ex19"/}}Example 19 ==
233 233  
234 234  * example
235 235  
236 -====== ~[[[top>>doc:]]] ======
237 -
238 238  == {{id name="Ex20"/}}Example 20 ==
239 239  
240 240  * example
241 -
242 -====== ~[[[top>>doc:]]] ======
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