20210621 Premarket Prep WTI Crude NY - Bear Market Trader
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20210621 Premarket Prep WTI Crude NY

20210621 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 trad­ed high­er last week clos­ing neu­tral, cur­rent­ly price is trad­ing with­in body

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 Three Inside Down giv­ing D1‑C‑S 71.448 with no con­tin­u­a­tion. Instead some D1 demand formed just below at D1 VWAP in UT.
    • H4 Bear Engulf and con­tin­u­a­tion down
  • Trend: H4 Down, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 2/3 
  • Mar­ket Profile
    • 2 over­lap­ping val­ues, no bracket
  • Dai­ly Range
    • ADR: 1434
    • ASR: 1319
      • 33
    • Day
      • Yes­ter­day’s High 71.979
      • Yes­ter­day’s Low 70.026


  • NY open
    • Below Val­ue, right at VAL
  • Open dis­tance to value
    • 0.01xASR
  • Nar­ra­tive
    • Mod­er­ate Imbal­ance. Open slight­ly below VAL com­ing from a H4 Bear Engulf at D1 Sup­ply trad­ing right into D1 Demand. Although the trend is up 3/3.
  • Clar­i­ty (1–5, 5 being best)
    • 2
  • Hypo 1
    • Val­ue Accep­tance, ear­ly accep­tance and fol­low-through although sup­ply with­in value
  • Hypo 2
    • Failed Auc­tion long, price extends down prob­ing demand
  • Hypo 3
    • Auc­tion Fade Short, vari­a­tion to Hypo 1
  • Hypo 4
    •  Auc­tion Fade Long at H4-C‑D 70.553
  • Hypo 5
    • Failed Auc­tion Short, probe of value

Addi­tion­al notes

  • Cap­i­tal Preser­va­tion Rule in effect

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 71.448

ZOIs for Pos­si­ble Long

  • H4-C‑D 70.553

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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