OIL: First green day

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“Trade setups, not movements”

1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)

Monday DAY 1 Opening Range ✅ day 2 cycle
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: This market could coiling for an explosive move back to the previous HOW, where short traders are still in profit
Short: I do not exclude the secondary scenario of pump and dump starting from Friday, eventually evolving during the further days

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

Today is US bank holiday, I would not be trading, intraday chart and setup will be updated on tomorrow Tuesday 28th of May, have a lovely day traders!

註釋

Monday DAY 1 Opening Range
Tuesday DAY 2 Initial Balance ✅ DAY 3 CYCLE
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, market potentially coiling at the current HOW for a major move back to the traders short from previous HOW
Short: secondary, I can't exclude a short scalp HOW to LOD if the level hold, however, I wouldn't be interested that much in this scenario

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

I would be interested in this market only if it pumps into the previous closing price, after MRN at 10am

註釋

No trade setup on OIL today, market kept pushing higher. If market does't react as expected, I would never try to guess the direction! see you on tomorrow

註釋

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, market still on the frontside of the move, day 3 long breakout traders in the market, it can still blow off in the direction of the trend.
Short: secondary, market took out the previous HOW, I do not exclude the possibility of a short trade scalping HOW to LOD if setup is presented

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

No news on the calendar, first hour NY session I will update the daily template, OIL open at 9am

註釋

As one trader was asking in the comment below, yes, pump and dump scenario for a HOW to LOD, go reading the short thesis in the trade description :)

註釋

If you shorted this market, right now, at the LOD, you should be taking most of the profit, market stil in frontside, this is a scalp with high probability

註釋