OIL: Day 3 breakout traders long in the market

20 thg 9

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“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
  
• 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: secondary, I won't exclude the possibility for this market to setup for a long trade, the market performed a higher high on the HOW and started dropping, currently consolidating.
  
  
• Short: primary, Day 3 long breakout traders, HOW, is most of the time a reversal signal, but considering the overall level and behaviour of price, before NY session start I can see more a pump and dump. Price still on the frontside, so I won't be looking for a dump all the way down back to the LOW, unless news release at 10:30am NYT will be catalyst.
  

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

20 thg 9

Ghi chú

Right now I'm looking for this potential short setup, if presented