Sniper Course: Range Finding

Sniper Course: Range Finding

  • Put some time into looking at the charts so you can start seeing the overall price swings.
  • Below is an example of market structure breaking on the 4 hour chart to the upside and then dipping back into an OTE order block:
  • Below is market structure breaking and confirming even further with another order block highlighted:
  • Because of market structure breaking we want to anticipate the market to stay above the 2 lows that formed as a result.
  • The Fiber really likes the 20, 50, & 80 levels.
  • On the 4 hour chart, a hammer in combination with an order block, 4 hour market structure breaking, & a hidden OTE at the 20 level from the daily chart is a nice combination of confluences:
  • Using that method, price actually never got to the 62% retracement from the 20 level, but it did if we used the 50 level:
  • If price dips down into the order block below, we could be a buyer again:
  • Tweezers & pin bars in OTE areas can serve as confirmation signals that you are on the right side of the market with your trade.
  • Good support & resistance usually will not let price double tap it or get all the way back to it.. which is where the use of a hidden OTE comes into play.
  • Hidden OTE is applicable with the institutional levels, but really should only be used with the big and mid figs.
  • An order block should be used as a confluence with the hidden OTE.
  • Example: price is trading into an area where an order block on a higher level time frame suggests we may see a bounce. We are also trading near a mid fig level. It is based upon using support & resistance levels as anchor points for a Fib.
  • Finding the Range
    • There are 2 primary range concepts employed in my trading. 
    • Unfulfilled range and fulfilled range.
    • Unfulfilled range is when price is expected not to trade to S&R [Hidden OTE].
    • Fulfilled Range is when Price has Traded to and away from a S&R  [Hidden OTE].
  • 2-3 months of chart study using these concepts and you will start seeing a whole different world of price action that is available to you.
  • One of the hardest things for a trader is profit taking.
  • You do not need every little pip in your trades, you just need pips in general.
  • Try just getting 1 good trade every week.
  • If you do not have a predetermined exit point before you even get in the trade, you will be plagued with profit taking problems.
  • There should be no shame exiting at a predetermined level, this is disciplined.
  • When trading you are going to over analyze everything that you do. If you make trades and get out at a predetermined level every week or 3 times a month, then you will be in the top 5% of traders.
  • You can slowly grow into bigger more long term objectives.
  • Symmetrical price swings can help you in choosing profit taking objectives.
  • Below you can see symmetrical price swings and you can use them for profit taking objectives:

  • Price will not always fill that symmetrical range 100% so you can pull a Fibonacci to find the 127 or 162 extension.