Bear Market Trader | Premarket Prep WTI Crude Oil
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20210617 Premarket Prep WTI Crude NY

20210617 Premarket Prep WTI Crude NY

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #oil #crude #WTI #USoil

This is my pre­mar­ket prep for today’s NY ses­sion for WTI Crude. This prep builds off of my week­ly trade plan I made here:

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Click to Enlarge

Com­pared against Week­ly Trad­ing Plan

  • Price still trad­ing above last week’s body and range with some reac­tion off W1-C‑S 73.340 although no touch

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 Bear­ish Inside Bar
    • H4-C‑S 72.276 formed and test­ed before clos­ing as a spin­ning top slight­ly high­er but with long longer sell­ing wick
  • Trend: H4 Up, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 3/3
  • Mar­ket Profile
    • Flim­sy brack­et but val­ues still slop­ing up
  • Dai­ly Range
    • ADR: 1231
    • ASR: 1105
      • 280
    • Day
      • Yes­ter­day’s High 72.961
      • Yes­ter­day’s Low 71.396


  • NY open
    • Below Val­ue, Out­side Range
  • Open dis­tance to value
    • 0.26xASR
  • Nar­ra­tive
    • Slight Gap down. D1 Bear­ish Inside Bar with an open below sen­ti­ment there could be more down­side. Over­ruled in case of a val­ue accep­tance. Trend is UP 3/3
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Return to val­ue, VAL Rever­sal, Sus­tained Auc­tion Down
  • Hypo 2
    •  Val­ue Accep­tance, not good prof­it tar­get due to Sup­ply with­in value
  • Hypo 3
    • Failed Auc­tion Short, probe above IB to val­ue and supply
  • Hypo 4
    • Sus­tained Auc­tion up, pos­si­ble late-sus­tained auc­tion entry
  • Hypo 5
    • Auc­tion Fade Short, vari­a­tion to Hypo 2

Addi­tion­al notes

  • Cap­i­tal Preser­va­tion Rule in effect

ZOIs for Pos­si­ble Shorts

  • H4-C‑S 72.276

ZOIs for Pos­si­ble Long

  • H4-C‑D 71.496
  • H4-C‑D 71.037

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 13 trades by the end of the month
  • Week­ly Goal
    • Min. 3 times work­ing out at home + manda­to­ry cardio
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • Risk Man­age­ment
    • With­out forc­ing a trade: aim to take 1 trade a day, if pos­si­ble 2. 
    • Cap­i­tal Preser­va­tion dur­ing draw­down allows for 1R profit-taking
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING


Day trader. Tech geek. Sim Racing Enthusiast.

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