OTE Pattern Recognition Series - Vol 10.srt

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ICT: Okay folks, welcome back. This is video number 10 in a

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continuing series of 20 videos for the ICT optimal trade

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entry pattern recognition series. Alright, so today's

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example is going to be on the Australian dollar versus the

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US dollar and we have our chart already trained in on the

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five minute chart, I want you to take a look at the chart

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and pause the video. Alright, this is your last warning

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before I show you the lipstick on the chart. All right, so

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we have Tuesday's previous daily high annotated here, the

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beginning of May 20 2020. And we have our New York session.

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time of day delineated on our chart. So we're looking for

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price to run above Tuesday's daily high See it's reaching

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out for their hits it just pierces it very very very

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modestly. And then it retraces down into our time of day.

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And we're going to add our fib fib here on our low to high

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optimal trade entry beautiful touch 279 tracing a level

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touches it again at the 70.5 vo which is a sweet spot and

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price expands above comes back find some support at previous

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daily high and price runs and expands above the big finger

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point 6600 level. Now for the fib I've shown you this in the

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first video but just want to show you the levels again

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because I got people asking on Twitter. Those are the levels

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that are highlighted on this fib and the one I've added but

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said in one of that game recall what woody it was in the

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series, but it's You can add a negative 1.5 level and you

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can see that being applied here, okay, so that way you have

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your half standard deviation, full standard deviation, one

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and a half standard deviation and two standard deviations

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further look with the details here 65 776 entry rate at the

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60 penetration level, you're filled with me on this candle

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here. And using a 10 PIP stop 30 pips is offered when we're

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using points 610 as our target. So the big figure in here,

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which would be right about in here, point 660 doesn't really

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line up with any of the fib. But if we're going to run above

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Tuesday's high, it's probably going to run above the big

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figure. So it's nice to be able to capture some kind of

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movement above that big figure. Now, you can simply just use

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the one standard deviation Here, and that would be point

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6600. Again, rounding down not demanding that 6603 and two

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PIP bets. So we're we're just using the fib. Again, as a

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framework, it's just a rough idea in terms of the basic

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profile to the trade. It doesn't require or we don't rather

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demand that these fib levels get hit, it just helps us

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structure, the trade. And where we can put our entries in

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when our stops are going to be in, projected up for

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potential targets. But we use the liquidity above this old

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high as the real framework and the big figure level I'll add

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here just for completeness sake. So you can appreciate the

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running liquidity above that, okay, so it's not that we're

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waiting Requiring this absolute high I have tools and

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techniques that will give you this very high, but it's not

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important especially not in the scope of a YouTube video

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series. Okay, hopefully you found this insightful until next

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time, I wish you good luck and good trading.