OIL: Day 3 shorts traders in the market, still backside
Updated
Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
2. SIGNAL DAY
3. WEEKLY TEMPLATE
4. THESIS:
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
- Monday DAY 1 Opening Range
- Tuesday DAY 2 Initial Balance ✅ No cycle
- Wednesday DAY 3 (reset DAY 1) Mid Point Week
- Thursday DAY 2
- Friday DAY 3 Closing Range
2. SIGNAL DAY
- First Red Day
- First Green Day
- 3 Days Long Breakout
- 3 Days Short Breakout ✅
- Inside Day
3. WEEKLY TEMPLATE
- Pump&Dump ✅
- Dump&Pump
- Frontside
- Backside ✅
4. THESIS:
- Long: primary, today is Tuesday, day 2 of the week, low of the week as well, opening range in place and market kept breaking down. However, I would be interested in taking a reversal trade as a scalp, back into the breakout of yesterday low, scalp LOD(LOW) to Yesterday LOD)
- Short: N/A I would not have any level to enter a potential down move, unless, and I repeat, unless before 10am the market will reach the previous LOD
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
Note
DAILY OVERVIEWIn my opinion, if this market will keep consolidating/coiling into the current level, can be a lucrative scalping long! keep watching
10am news!
Trade active
Position at BE, W bottom 5 min chart into the LOD/LOW, pump and dump?
Note
Chances to get stopped out pretty high, news on calendar at 10am, I wouldn't ben in the trade at that time, lock in profit if you are in profit, or exited full position at 9:59amTrade closed: stop reached
Stopped out at BE, 25pip in profit, on oil, is my range to go to break even, again, MRN at 10am, I entered a position with half size because the setup as per my style was identified! I will keep watchingNote
OIL didn't move that much today, after 10am nothing really interesting happened. No trade for today !
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.