Pattern Recognition - Aussie OTE NYO
Summary
TLDRIn this pattern recognition tutorial, the presenter guides viewers through identifying optimal trade entries using market structure shifts and price levels. Starting at an old high of 77.49, the video demonstrates how to anchor the FibReactive tool to find entry points and profit objectives. It highlights the importance of respecting price levels and market structure, providing a clear strategy for trading with a focus on the 15-minute time frame and emphasizing the significance of overlapping price zones.
Takeaways
- 📈 The video discusses a pattern recognition strategy in trading, focusing on identifying optimal trade entries and profit objectives.
- 📊 The presenter uses a specific price level of 77.49 as an example of an old high that could be a significant institutional level to watch for price action.
- 🔍 A 15-minute time frame is selected to highlight the market structure shift and identify the optimal trade entry points.
- 📉 The strategy involves using the FibRetracement tool to find support and resistance levels, with a focus on the 50% and 250% levels.
- 📍 The 'impulse price' is identified when a high is taken out, and the Fib tool is used to anchor from the lowest body to the highest body of a candlestick.
- 💰 The optimal trade entry is suggested at the 70.5 level, which is a midpoint between the old high and the current price action.
- 🎯 The old high at 77.49 is considered the first profit objective, and the presenter discusses potential further targets at 77.95, 77.10, and 78.30.
- 📝 The script emphasizes the importance of respecting price levels and market structure in making trading decisions.
- 🌐 The video mentions 'kill zones' which seem to refer to specific price areas where trades should be exited or adjusted.
- 🕒 The presenter notes the significance of time of day and session overlaps, such as between London and New York trading sessions, on price action.
- 📚 The script concludes with a reminder of the importance of pattern recognition and optimal trade entry in successful trading.
Q & A
What is the main topic discussed in the video script?
-The main topic discussed in the video script is pattern recognition in trading, specifically focusing on identifying optimal trade entry points using market structure and price levels.
What is the significance of the old high mentioned in the script?
-The old high, mentioned as 77.49, is a significant price level in the market structure that traders use as a reference point for potential institutional buying or selling pressure.
What does the script suggest should be the first level of interest for institutional traders when the price comes down to 77.49?
-The script suggests that the first level of interest for institutional traders should be 77.50, which is a calibrated level that might act as a support or resistance.
What time frame is recommended for analyzing the market structure in the script?
-The script recommends dropping down to a 15-minute time frame to analyze the market structure and highlight the market structure shift.
How is the 'impulse price' determined in the script?
-The 'impulse price' is determined by taking the lowest body of the candlestick (which could be the open or close) and dragging it up to the highest body of the candlestick, creating a range for potential trade entries.
What is the optimal trade entry mentioned in the script, and how is it calculated?
-The optimal trade entry mentioned in the script is 70.5. It is calculated by using the lowest body of the candlestick as an anchor and extending it to the highest body, creating a level that traders can use to enter trades.
What are the profit objectives and targets mentioned in the script?
-The profit objectives and targets mentioned in the script are the old high, target one, target two, and a symmetrical price ring. These are levels at which traders can expect to take profits or adjust their trades.
What is a 'kill zone' in the context of the script?
-A 'kill zone' in the script refers to a specific price area where the market is expected to reverse or consolidate, providing traders with potential entry points or stop-loss placements.
How does the script suggest identifying a trade entry in the 'kill zone'?
-The script suggests identifying a trade entry in the 'kill zone' by looking for a candlestick that shows respect for a certain price level, such as 70.5, and then observing the market's reaction to that level for potential entry signals.
What is the significance of the 'London just New York' reference in the script?
-The 'London just New York' reference indicates a time when the London market session overlaps with the New York market session, which can lead to increased volatility and potential trading opportunities.
What is the potential upside mentioned in the script, and what does it imply for traders?
-The potential upside mentioned in the script is 77.95, 77.10, and then 78.30. This implies that traders should be prepared for the possibility of the price moving up to these levels, and they should have strategies in place to manage their trades accordingly.
Outlines
📈 Stock Market Pattern Recognition and Trade Entry Strategy
The speaker introduces a pattern recognition strategy in the stock market, focusing on identifying key price levels for potential institutional reactions. The example provided involves observing an old high price of 77.49 and using a 50 level drop to 77.50 as a reference for potential trade entries. The discussion includes a shift to a 15-minute time frame to highlight market structure changes, the use of a Fibonacci tool to anchor trade entries, and the identification of optimal trade entry points at 70.5, with the old high as the first profit objective. The speaker also outlines subsequent profit targets and symmetrical price rings for further trade planning.
Mindmap
Keywords
💡Pattern Recognition
💡High and Low
💡Institutional Level
💡Time Frame
💡Market Structure Shift
💡Impulse Price
💡Fibonacci Tool
💡Trade Entry
💡Profit Objective
💡Kill Zone
💡Symmetric Price Ring
Highlights
Introduction to pattern recognition in trading using string analysis.
Explanation of the significance of the old high at 77.49 in the trading pattern.
Use of institutional level to determine the first 50 level at 7750.
Shifting to a 15-minute time frame for a more detailed market structure analysis.
Highlighting the market structure shift and its importance in identifying trading opportunities.
Technique of using the lowest body of a candlestick for optimal trade entry calculations.
Identifying the optimal trade entry at the 70.5 level and its significance.
Achievement of the old high as the first profit objective in the trading strategy.
Introduction of target one, target two, and symmetrical price ring as subsequent profit objectives.
Demonstration of overlapping patterns in the market and their impact on trade entry.
Analysis of the impact of the London and New York trading sessions on market behavior.
Identification of the 70.5 level as a key support and entry point in the New York session.
Discussion on the potential upside targets of 77.95, 77.10, and 78.30.
Consideration of market conditions and the potential for ambitious targets in trading strategies.
Explanation of the pattern recognition process using a break in market structure.
Identification of the optimal trade entry and stop loss placement in the trading strategy.
Conclusion and summary of the pattern recognition method for optimal trade entry.
Good luck and good trading wishes for the audience.
Transcripts
[Music]
[Music]
hey folks welcome back another example
for pattern recognition string okay
where's Vincent all Z dollar all right
now I'm gonna take you to an old high
and over here and we're look at the old
high coming in at 77 49
so if price is coming down to 77 49 what
an institutional level should it hit
first 50 level 7750 so we're gonna drop
our love on that calibrated 250 okay so
there's a hard time frame price level
real simple short and sweet I'll drop
down into a 15-minute time frame okay
and we're gonna highlight the market
structure shift right here
there's your high that's been violated
here
rain there okay soon as this high is
taken out this is our impulse price like
all I'll do is take our fit anchor even
the lowest body it could be the open or
the closed doesn't make a difference
whichever is the lowest click it on
there and we'll drag it up to the
highest Bobby again it could be a open
or closed and is gonna be here you can
see optimal trade entry 70.5 level comes
in at seventy seven fifty nice mid
figured level okay and our old high is
our first profit objective and it's been
hit so far next up side would be target
one target two and symmetrical price
ring respectively so one more quick
example what it would look like and then
one more time give a better feel for
what that looks like okay
very very nice overlapping that's gonna
be it for another quick example for
pattern recognition
it says during well let's do this let's
take all this off and we'll go into our
kill zones then I'll add that fit back
one you guys can see how it's
overlapping what time of day little
spike up to the highest body great there
so it's this candle in this candles body
beautiful respect for the 70.5 level and
right there's your trade entry door into
New York kills them okay this is London
just New York okay very very nice run on
devices with resting about here and any
upside would lead us to expect 77 95
seventy 10 and then 78 30 respectively
but it might be a little bit ambitious
for 30 but this will we look for
going forward okay so again that's the
pattern its optimal trade entry using a
break-in market structure right here off
of the higher time frame level okay 7750
what's the level right in here it
bounced there went a little my time
broker structure high retracement
optimal trade entry don't get kill zone
there's your entry stop will be below
there and expanding up okay until next
time I wish good luck and good trading
Weitere ähnliche Videos ansehen
Imbalance & Inefficiency | FOREX SMC
OTE Primer - Intro To ICT Optimal Trade Entry
just copy this, don't even think, this is how you trade
1721991465949096
EASIEST ICT Silver Bullet Strategy To PASS Funded Challenge (FULL TRADING PLAN)
Ultimate Fibonacci Extension Trading Strategy (Dangerously Effective!)
5.0 / 5 (0 votes)