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From version 4.1
edited by Drunk Monkey
on 2020-06-27 20:06
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To version 19.2
edited by Drunk Monkey
on 2020-06-28 21:43
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Summary

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2 2  {{toc start="2"/}}
3 3  {{/box}}
4 4  
5 -== Optimal Trade Entry Primer ==
5 +== {{id name="Primer"/}}Optimal Trade Entry Primer ==
6 6  
7 7  * one of many trading patterns, one of the easiest
8 8  * trading plan needs to be simple:
... ... @@ -14,8 +14,8 @@
14 14  ** how do you manage the trade?
15 15  ** where do you take profits?
16 16  * what make the market predisposed to go higher or lower?
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.
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.
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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33 33  * First Scaling, or slightly before, represents the place to take initial profits.  It should be a decent return, preferable better than 1:2 risk/reward, but slightly less than 2 (1.5? 1x75?) is also acceptable.
34 34  * Setups on 1h charts better than 5m charts because the pip movements will be larger.
35 35  * Key levels xxx.00, xxx.20, xxx.50, xxx.80, yyy.00
36 +* Place the fibs on the body of the candles
37 +* Market structure - example given:
38 +- monthly view
39 +[[image:Screenshot 2020-06-29 at 03.11.56.png]]
40 +\\- daily view
41 +[[image:Screenshot 2020-06-29 at 03.14.02.png]]
42 +\\- 15m view[[image:Screenshot 2020-06-29 at 03.06.46.png]]
43 +* Note the following:
44 +** institutional levels
45 +** old monthly high at 1.1720 (1.17137 rounded)
46 +** price runs down until it hits the 20 level (1.1720), rallies and creates a new short term high (old - middle red line, new STH, top red line. It's also called a "market structure break"
47 +** the new STH makes for a more likely trade opportunity. (market maker model) and opens up the chance for an OTE.
48 +** 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.
49 +** at the fib, we see price rockets away from a STL
50 +* when old highs/lows are broken, trades will tend to reach back to those old positions (retail calls it "support")
36 36  
37 -== Introduction ==
52 +== {{id name="Intro"/}}Introduction ==
38 38  
39 -== Example 1 ==
54 +* how to annotate the charts to look for specific price patterns
55 +* 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
56 +* the pattern should appear every day, but not necessarily on the same pairs
57 +* daily chart - audusd, 20-apr-2020 contains two down candles, showing orderblock
58 +[[image:Screenshot 2020-06-29 at 04.21.46.png]]
59 +
60 +* the two equal lows in May are sensitive to prices in that order block
61 +[[image:Screenshot 2020-06-29 at 04.23.52.png]]
62 +
63 +* we are primarily looking for reactions to the previous days range. (last visible green candle in the picture above)
64 +* can we determine whether the price is going to be able to break the previous days high or low?
65 +[[image:Screenshot 2020-06-29 at 04.50.28.png]]
66 +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.
67 +
68 +* AUDUSD 5M example[[image:Screenshot 2020-06-29 at 04.58.02.png]]
69 +Mark out the previous days high and low.
70 +\\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.
71 +
72 +* 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. 
73 +[[image:Screenshot 2020-06-29 at 05.02.49.png||height="579" width="385"]]
74 +The green box represents the 62 to 79% Fib retracement levels in the OTE pattern
75 +
76 +* The Fib box is drawn from the low to high when the previous days high has been broken.
77 +
78 +* Fib settings for Trading View
79 +[[image:Screenshot 2020-06-29 at 05.10.27.png||height="533" width="363"]]
40 40  
41 -== Example 2 ==
81 +== {{id name="Ex02"/}}Example 2 ==
42 42  
43 -== Example 3 ==
83 +* example
44 44  
45 -== Example 4 ==
85 +== {{id name="Ex03"/}}Example 3 ==
46 46  
47 -== Example 5 ==
87 +* example
48 48  
49 -== Example 6 ==
89 +== {{id name="Ex04"/}}Example 4 ==
50 50  
51 -== Example 7 ==
91 +* example
52 52  
53 -== Example 8 ==
93 +== {{id name="Ex05"/}}Example 5 ==
54 54  
55 -== Example 9 ==
95 +* example
56 56  
57 -== Example 10 ==
97 +== {{id name="Ex06"/}}Example 6 ==
58 58  
59 -== Example 11 ==
99 +* example
60 60  
61 -== Example 12 ==
101 +== {{id name="Ex07"/}}Example 7 ==
62 62  
63 -== Example 13 ==
103 +* example
64 64  
65 -== Example 14 ==
105 +== {{id name="Ex08"/}}Example 8 ==
66 66  
67 -== Example 15 ==
107 +* example
68 68  
69 -== Example 16 ==
109 +== {{id name="Ex09"/}}Example 9 ==
70 70  
71 -== Example 17 ==
111 +* example
72 72  
73 -== Example 18 ==
113 +== {{id name="Ex10"/}}Example 10 ==
74 74  
75 -== Example 19 ==
115 +* example
76 76  
77 -== Example 20 ==
117 +== {{id name="Ex11"/}}Example 11 ==
78 78  
79 -
119 +* example
120 +
121 +== {{id name="Ex12"/}}Example 12 ==
122 +
123 +* example
124 +
125 +== {{id name="Ex13"/}}Example 13 ==
126 +
127 +* example
128 +
129 +== {{id name="Ex14"/}}Example 14 ==
130 +
131 +* example
132 +
133 +== {{id name="Ex15"/}}Example 15 ==
134 +
135 +* example
136 +
137 +== {{id name="Ex16"/}}Example 16 ==
138 +
139 +* example
140 +
141 +== {{id name="Ex17"/}}Example 17 ==
142 +
143 +* example
144 +
145 +== {{id name="Ex18"/}}Example 18 ==
146 +
147 +* example
148 +
149 +== {{id name="Ex19"/}}Example 19 ==
150 +
151 +* example
152 +
153 +== {{id name="Ex20"/}}Example 20 ==
154 +
155 +* example
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