OTE Pattern Recognition Series - Vol 11.srt
Last modified by Drunk Monkey on 2021-06-10 10:03
| 1 | 00:00:10,740 --> 00:00:18,990 | ICT: Welcome back, folks, this is the 11th video in a series of 20 videos for the ICT optimal trade entry pattern recognition series. Alright, so here's our |
| 2 | 00:00:18,990 --> 00:00:30,990 | example for today. The examples shown in the dollar CAD xR five minute chart, and you know the drill. pause your video, study it before I show you all the |
| 3 | 00:00:30,990 --> 00:00:48,810 | annotations. Okay, and now let's add our annotations. Here's our time of day. previous day's high, Wednesday's daily high. And you can see during the New York |
| 4 | 00:00:48,810 --> 00:01:00,150 | session, we have a nice run here and back down in. This is your optimal trade entry here. You can also do it from this low to this high here and trade back |
| 5 | 00:01:00,150 --> 00:01:12,330 | into here. I'm going to run it on this swing here. Alright, so here's the Fibonacci and our annotations showing where you can see the entry at the 62% |
| 6 | 00:01:12,330 --> 00:01:27,420 | retracement level 1.3903 and two pipettes and stop would be below 138951 just using a standard 15 PIP it's a little bit wider spread for this pair 20 pips |
| 7 | 00:01:27,420 --> 00:01:38,010 | comes in at one half a standard deviation 30 pips at one standard deviation 40 pips at one and a half standard deviations. And finally, as I talked with this |
| 8 | 00:01:38,010 --> 00:01:44,700 | model, if ever goes to two standard deviations, you want to take your profits there, yes, that one a little bit beyond that. But again, we're not trying to |
| 9 | 00:01:44,880 --> 00:01:54,120 | split hairs and we want something that delivers very consistent rule based we're not trying to be absolutely perfect with our entry not absolutely perfect with |
| 10 | 00:01:54,120 --> 00:02:06,690 | our exit, we don't need that. So 50 pips plus from an entry working with a 15 PIP stop loss, very, very handsome are multiple there. Notice how we ran above |
| 11 | 00:02:06,690 --> 00:02:16,170 | Wednesday's daily high, we spike through it, no more drive above it, and trade down below it and back again. And then we sank down below and and now look at |
| 12 | 00:02:16,170 --> 00:02:27,120 | the sensitivity in here. So again, previous day's highs and lows. set the stage for the easiest bread and butter setups you're ever gonna find in the markets. |
| 13 | 00:02:27,480 --> 00:02:34,920 | You don't need to be paying signal services. You don't need to be paying people for chat rooms. You absolutely can do this. And it's something that repeats |
| 14 | 00:02:34,950 --> 00:02:38,970 | every single day. Until next time, I wish good luck and good trading. |