OIL: Three days breakout short in the market

2024年8月19日

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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: primary, as explained on the chart, currently the 3 sessions is potentially setting up for a reversal scalp, targeting eventually the CP of Friday, and I will be willing to get a buy low if price holds on the current level (previous LOW) till 9am NYT (oil market opening)
  
• Short: secondary, 3 weeks of pump and dump scenario, Friday closed as FRW (first red week), on the long term I can see a further down move, but my analysis are for the day itself.
  

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

2024年8月20日

註釋

3 session pump and dump, scalping long completed

2024年8月20日

註釋

Short thesis, as described in the analysis, is stil active, potential 3 weeks of pump and dump