Harmonic + OB + IMB + OTE: Failed
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.
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.
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