Bear Market Trader | Premarket Prep WTI Crude Oil
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NY Premarket Prep WTI Crude 20210615

NY Premarket Prep WTI Crude 20210615

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

This is my pre­mar­ket prep for today’s Euro­pean 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 trad­ing above last week’s body and range near­ing W1-C‑S 73.340

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • Yes­ter­day closed as a doji with longer sell­ing wick but Lon­don already made a HH trad­ing with­in D1-C‑S 71.50.
    • H4 RBR at H4 VWAP in UT giv­ing H4-C‑D 71.037
  • Trend: H4 Up, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 3/3
  • Mar­ket Profile
    • 2 over­lap­ping values
  • Dai­ly Range
    • ADR: 1193
    • ASR: 1172
      • 29
    • Day
      • Yes­ter­day’s High 71.762
      • Yes­ter­day’s Low 70.712


  • Loca­tions
    • H4-C‑D 71.037 at VAL
    • D1-C‑S 71.50 with­in value
  • Sen­ti­ment
    • NY open
      • Open with­in val­ue at VAH
    • Open dis­tance to value
      • N.A.
    • Pre­mar­ket
      • H4 closed high­er from H4 demand
    • Nar­ra­tive
      • Bal­anc­ing Mar­ket. How­ev­er, H4 Con­tin­ued clos­ing high­er from H4 demand and made HH dur­ing Lon­don. A M30 Three Inside Down before NY open (which was right at VAH)
  • Clar­i­ty (1–5, 5 being best)
    • 3
  • Hypo 1 — Sus­tained Auc­tion Down
    • Nar­ra­tive: D1 Sup­ply, M30 Three Inside Down permarket,
    • Pre­ferred: IB exten­sion down, sus­tained auc­tion (taper prof­it tar­get due to a wide value)
    • Con: D1 Bull­ish narrative
  • Hypo 2 — Val­ue Rejec­tion Up / Sus­tained Auc­tion Up
    • Nar­ra­tive: D1/W1 Bull­ish narrative
    • Pre­ferred: IB exten­sion UP, sus­tained auc­tion tak­ing out D1 demand
    • Con: Open with­in val­ue, ADR near­ly exhausted
  • Hypo 3 — Val­ue Rejec­tion Fail­ure / Failed Auction
    • Pre­ferred: price extends above and fails to find busi­ness. ADR exhaus­tion right above.
  • Hypo 4 — Auc­tion Fade
    • Nar­ra­tive: Hypo 2 plays out, D1 Sup­ply Pop gives an LTF reac­tion. Exhausts ADR
    • Pre­ferred: TPO struc­ture and PA rever­sal, tar­get to IB edge
    • Con: D1 Bull­ish narrative
  • Hypo 5 — Auc­tion Fade
    • Vari­a­tion to Hypo 1, pos­si­ble rever­sal at H4 demand at VAL 

Addi­tion­al notes

  • Cap­i­tal Preser­va­tion Rule in effect

ZOIs for Pos­si­ble Shorts

  • W1-C‑S 73.340
  • D1-C‑S 71.500

ZOIs for Pos­si­ble Long

  • H4-C‑D 71.037
  • D1-C‑D 70

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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