WTI Crude 2021 Week 24 Trading Plan

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This is my weekly outlook on WTI Crude Oil. The levels that I will be looking at with a higher probabilistic chance the market will start reacting. During the session I then wait for the market to hit those levels and either confirm or reject my bias through price action confirmation and order flow. I hope that makes sense. If not, please get in touch with me. I love to talk to people that are on the same path as me. So don’t be shy and reach out. 

Monthly – Slightly Bullish

• Price formed a MN RBR through Bull Engulf giving MN-C-D 62.490 with one test and continuation higher arriving at MN-C-S 69.678
• Price trading within MN QHi

Weekly – Slightly Bullish

• W1 Bull Engulf giving W1-C-D 65.568 at W1 VWAP in UT TC above MN demand
• Price trading within W1 QHi below W1-C-S 73.340

Daily – Slightly Bullish

• D1 demand created through Bull Engulf at MN C-sup with consequent RBR testing said demand 3 times arriving at D1-C-S 71.50 with slight reaction
• No D1 Q point activated

Sentiment summary – Slightly Bullish

• MN shows a strong move higher although having arrived at a strong supply from October 2018 some reaction could be expected
• W1 is showing a continued move higher as well although nearing W1-C-S 73.340. If price takes out W1 Supply End 76.899 price would take out the high of October 2018
• Price arrived at a strong D1 supply with only little reaction so far which could mean a continuation until proven otherwise

Additional notes

• N.A.

ZOIs for Possible Shorts

• W1-C-S 73.340
• D1-C-S 71.50
• MN-C-S 69.678

ZOIs for Possible Long

• D1-C-D 70.000
• W1-C-D 65.568
• MN-C-D 62.490

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
• 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

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