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edited by Drunk Monkey
on 2020-06-28 19:59
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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
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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