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Last modified by Drunk Monkey on 2023-01-14 05:38
From version 7.1
edited by Drunk Monkey
on 2020-06-28 19:14
Change comment: Uploaded new attachment "Screenshot 2020-06-29 at 03.14.02.png", version {1}
To version 7.2
edited by Drunk Monkey
on 2020-06-28 19:25
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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
17 +** look at HTF (M, W, D, 4h) and look for key levels where price has moved away from in the past
18 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.
... ... @@ -33,6 +33,20 @@
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.
47 +** the new STH makes for a more likely trade opportunity. (market maker model) and opens up the chance for an OTE.
48 +**
49 +* when old highs/lows are broken, trades will tend to reach back to those old positions (retail calls it "support")
36 36  
37 37  == Introduction ==
38 38