BASIC FIB OTE + OB PULLBACK TRADING SETUP
JUST CHECK THE PIC FOR THE IDEA.
BUT BASICALLY HERE ARE THE STEPS:
1. DETERMINE CURRENT MARKET STRUCTURE USING 1) SWING HIGH & SWING LOW 2) BOS & CHOCH
-this is more powerful if price has just made a break of structure(BOS), but not necessarily.
2. PLOT FIB FROM LATEST SWING HIGH & SWING LOW
3. LADDER ENTRY AT FIB OTE + ORDERBLOCK ZONE
4. PUT STOPLOSS AT ABOVE SWING HIGH "Invalidation Zone"
5. TAKE PROFIT AT SWING LOW
That's it. Backtest it until the inception of Bitcoin if you want just to get a really accurate picture of how well it works.
Basic is good. Fancy gets broken.
BUT BASICALLY HERE ARE THE STEPS:
1. DETERMINE CURRENT MARKET STRUCTURE USING 1) SWING HIGH & SWING LOW 2) BOS & CHOCH
-this is more powerful if price has just made a break of structure(BOS), but not necessarily.
2. PLOT FIB FROM LATEST SWING HIGH & SWING LOW
3. LADDER ENTRY AT FIB OTE + ORDERBLOCK ZONE
4. PUT STOPLOSS AT ABOVE SWING HIGH "Invalidation Zone"
5. TAKE PROFIT AT SWING LOW
That's it. Backtest it until the inception of Bitcoin if you want just to get a really accurate picture of how well it works.
Basic is good. Fancy gets broken.
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