Latest Posts
Bear Market Trader | Premarket Prep WTI crude oil - London session
day trade, day trading, forex, FX, trade plan, trading plan, WTI, crude oil, crude, blackoil, premarket prep, pre-market prep, commodities, commodities trader, daytraderlife, tradingforex, tradinglifestyle, tradingforex,
2920
post-template-default,single,single-post,postid-2920,single-format-standard,locale-en-us,vcwb,ajax_fade,page_not_loaded,,side_area_uncovered_from_content,qode-theme-ver-9.5,hide_inital_sticky
 

Premarket Prep WTI 07202020

Premarket Prep WTI 07202020

#pre­mar­ket­prep #trad­ing­forex #forex #WTI #BLACKGOLD #CRUDEOIL #CRUDE #CRUDEOILISSLIPPERY #day­trad­ing #trad­inglifestyle #day­trader­life

This is my pre­mar­ket prep for today’s Euro­pean ses­sion for WTI crude oil. 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.

Non-con­jec­ture obser­va­tions of the market

  • Price still with­in D1 supply
  • So far the day trad­ed down into demand H4-C‑D 40.508 cur­rent­ly trad­ing right on top of H4 QLo
  • Mar­ket Profile
    • Price cur­rent­ly trad­ing just below VAL with new low­er time frame sup­ply cre­at­ed just with­in value

Com­pared against Week­ly Trad­ing Plan

  • Still with­in week­ly consolidation

Sen­ti­ment — Slight­ly Bearish

ZOIs for Pos­si­ble Shorts

  • H4-C‑S 40.865
  • H4-C‑S B.E. 40.692

ZOIs for Pos­si­ble Long

  • H4-C‑D 40.508
  • D1-C‑D 40.377

Mind­ful Trading

  • Slept okay. Took a nap midday.

Focus Points for trad­ing development

  • Week­ly Goal
    • Cor­rect posi­tion sizing
    • Have cor­rect SL placement
    • Due to sum­mer time I will focus on trad­ing off new­ly formed SD ZOIs for intra­day plays. Keep­ing in mind that due to lack of liq­uid­i­ty 2nd chance entries can give bet­ter R/R using the M30/M15 rule.
  • Risk Man­age­ment
    • Only take 2 trades a day but only have 1 active trade on between the assets
    • Only trade off M30 candles
    • Trad­ing Priority
      • FX pair out­side value
      • FX pair inside > Gold
      • 2+R prof­it dur­ing LN con­sid­er trad­ing PNYC
    • After 4 los­ing trades reduce TP to 1.5R but after 1R can con­sid­er tak­ing profits
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING
T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

No Comments

Post A Comment