OIL: First red day on the backside move

30 мая

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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 ✅ Day 2 cycle
  
• 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 could see Wednesday as a dump day pulling back above the opening range high, for a long trade back to the high of week, however, considering the market on the backside move, I will be willing to put more size into the short scenario.
  
• Short: primary, first red day, market on backside, Monday to Wednesday pump, by tomorrow Oil can definitely have a good chance to reach the LOW
  

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

30 мая

Заметка

Daily overview


During the session I will update the 3 session setup for a better understanding

30 мая

Заметка

I repeat, that would be an entry in a different market condition with no news on calendar later on during the session.
This entry is only demonstrative to show the behaviour of price once the market reach a level of interest.
Breakout, pullback, continuation in the direction of the trend.
(Read the primary thesis for a better understanding)

30 мая

Заметка

9:15am (new 15min cycle, market reversed after a stop hunt 40 pips into the LOD), once again, news at 10am and Oil news 11am

31 мая

Заметка

Backside movement, weekly pump and dump completed, the setup however, was identified after 11am, expected considering OIL major red news at that time