Harmonic + OB + IMB + OTE: Failed

2023年7月19日

1. I used the Previous OTE ZONE as my entry area when it has already been tapped a few times...

2. I did not plot a fib ret on the latest swing low/high for some reason despite there being a ChoCh present.

One thing to note about this though, is that the FIBRET is Reversed. Seeing the non-reversed version meant there was no OB + OTE confluence anywhere.

Maybe that's why I didn't bother with it.

Here's the thing though.. and what is probably a crucial information that I wouldn't have learned if I didn't lose this trade:

Putting fibret on reverse, meant it confluenced with the FVG.

So what I've learned:

1. OTE + FVG MIGHT JUST BE AS VIABLE AS OTE + OB.

2.Try out both reversed and non-reversed versions of fib ret. There might be a confluence you are not seeing.

ALSO, VERY IMPORTANT NOTE:

If price left your entry point, and reached target take profit (liquidity, fvg, s/r levels, etc) first...

Close the trade.

Reaching the target take profit means the market maker move is done.


It means the intention has been fulfilled, and it's time to make a new price action setup.

So the next time it reaches your target entry point, the price has a higher chance of not bouncing, because price is already moving with different intent.

CANCEL COMPLETED TRADES.

SAVE YOUR CAPITAL.

DON'T GIVE IT UP EASILY.