NY Premarket Prep WTI Crude 20210615 - Bear Market Trader
day trade, day trading, trade plan, trading plan, WTI, Crude, Crude Oil, USoil, traderlifestyle, daytraderlife, weekly trading plan,

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.

0 0 votes
Article Rating
Notify of

Inline Feedbacks
View all comments
WP Twitter Auto Publish Powered By : XYZScripts.com
Would love your thoughts, please comment.x