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From version 7.2
edited by Drunk Monkey
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To version 21.2
edited by Drunk Monkey
on 2020-06-29 20:17
Change comment: There is no comment for this version

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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:
... ... @@ -15,7 +15,7 @@
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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43 43  * Note the following:
44 44  ** institutional levels
45 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.
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 47  ** the new STH makes for a more likely trade opportunity. (market maker model) and opens up the chance for an OTE.
48 -**
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
49 49  * when old highs/lows are broken, trades will tend to reach back to those old positions (retail calls it "support")
50 50  
51 -== Introduction ==
52 +== {{id name="Intro"/}}Introduction ==
52 52  
53 -== 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||queryString="width=385&height=579" 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 +* Trade
78 +** lot size that allows taking the partials (0.04, take a bit off each time? 
79 +** SL will be set below the 100 level.
80 +** Profit taking
81 +*** take at 1st scaling at -0.5 or 15 pips or more
82 +*** take next at -1.0 or 15 pips or more (or slightly before - round down to the nearest 10 level)
83 +*** take a scaling at 100 pips regardless of where you are
84 +*** take next at -1.5
85 +*** take next at -2.0
86 +*** once price moves beyond the 1st scaling, move the SL up (just beyond BE)
87 +*** 2nd scaling - move SL above SL.
88 +*** other scalings - watch the trades, then set SL beyond BE, not to close so there is room for the trade to run.
89 +*** get out by the last scaling
90 +* Fib settings for Trading View:
91 +[[image:Screenshot 2020-06-29 at 05.10.27.png||queryString="width=363&height=533" height="533" width="363"]]
92 +We could also at -1.5 level
93 +
94 +* key things learned
95 +** when to move a stop
96 +** what entry price to look for
97 +** where stop loss should be
98 +** where do you take partials
99 +** what you avoid doing to your revised stops (choking them out)
54 54  
55 -== Example 2 ==
101 +== {{id name="Ex02"/}}Example 2 ==
56 56  
57 -== Example 3 ==
103 +* example
58 58  
59 -== Example 4 ==
105 +== {{id name="Ex03"/}}Example 3 ==
60 60  
61 -== Example 5 ==
107 +* example
62 62  
63 -== Example 6 ==
109 +== {{id name="Ex04"/}}Example 4 ==
64 64  
65 -== Example 7 ==
111 +* example
66 66  
67 -== Example 8 ==
113 +== {{id name="Ex05"/}}Example 5 ==
68 68  
69 -== Example 9 ==
115 +* example
70 70  
71 -== Example 10 ==
117 +== {{id name="Ex06"/}}Example 6 ==
72 72  
73 -== Example 11 ==
119 +* example
74 74  
75 -== Example 12 ==
121 +== {{id name="Ex07"/}}Example 7 ==
76 76  
77 -== Example 13 ==
123 +* example
78 78  
79 -== Example 14 ==
125 +== {{id name="Ex08"/}}Example 8 ==
80 80  
81 -== Example 15 ==
127 +* example
82 82  
83 -== Example 16 ==
129 +== {{id name="Ex09"/}}Example 9 ==
84 84  
85 -== Example 17 ==
131 +* example
86 86  
87 -== Example 18 ==
133 +== {{id name="Ex10"/}}Example 10 ==
88 88  
89 -== Example 19 ==
135 +* example
90 90  
91 -== Example 20 ==
137 +== {{id name="Ex11"/}}Example 11 ==
92 92  
93 -
139 +* example
140 +
141 +== {{id name="Ex12"/}}Example 12 ==
142 +
143 +* example
144 +
145 +== {{id name="Ex13"/}}Example 13 ==
146 +
147 +* example
148 +
149 +== {{id name="Ex14"/}}Example 14 ==
150 +
151 +* example
152 +
153 +== {{id name="Ex15"/}}Example 15 ==
154 +
155 +* example
156 +
157 +== {{id name="Ex16"/}}Example 16 ==
158 +
159 +* example
160 +
161 +== {{id name="Ex17"/}}Example 17 ==
162 +
163 +* example
164 +
165 +== {{id name="Ex18"/}}Example 18 ==
166 +
167 +* example
168 +
169 +== {{id name="Ex19"/}}Example 19 ==
170 +
171 +* example
172 +
173 +== {{id name="Ex20"/}}Example 20 ==
174 +
175 +* example
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