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OIL: Day 3 long breakout traders in the market, HOW reversal

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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, no FRD signal, however the behaviour is pretty similar. In this kind of scenario, considering the market already dumping, if it start consolidating for a false break reversal in a daily overview, I would be happy to have a scalp long.
Short: primary, weekly failed breakout, 3 days long in the market, price now on the backside move also in bigger timeframes, I will be looking for a sell high targeting 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

註釋

In the daily overview, right now oil looks like setting up for a long scalp, I won't touch it till 9am at least, and remember, going long is not my primary thesis