OIL: Day 3 breakout short, first green day

11 Tem

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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: primary, signal day, potential weekly dump and pump can be completed by today. At the moment the market is dumping in the day, if I will see a consolidation holding till CPI or 9am (OIL opening ), I will be willing to take this long setup
  
• Short: secondary, Asia pumped into yesterday HOD, and failed, I can not exclude a retest of the LOW if the market keep going breaking down.
  

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

11 Tem

Not

Daily overview, Asia and London dumped, CPI performed a HH on the inside, potentially is going to setup