Trading Plan Crude Oil 04172020

These are my hypotheticals for today’s crude oil session. Basically the levels that I will be looking at where it has a higher probabilistic chance the market will start reacting. Then I come up with ways I think the market will react around those levels. During the session I then wait for the market to hit those levels and either confirm or reject my hypothesis. I hope that makes sense. If not, please get in touch with me. I am not selling you anything. I just love to talk to people that are on the same path as me. So don’t be shy and reach out. 

Observations of the market

• M: Current month retraced previous month by less than 50% and is being pushed back down over 50% intra-month as well. Potential for more downside.
• W: Demand ZOI formed 20.600 – 23.150
• D: Price retraced back to D Demand ZOI and we might be forming a morning star hence cautiously bullish sentiment
• H4: Bullish Engulfing yesterday. Gap up today over daily VWAP but still below H4 VWAP. Consolidating within Supply ZOI possibility for BO.
• M30: Consolidating within QHi, formed a bullish engulfing but no move yet
• Bullish above 26.70
• Bearish below 26.50

Hypotheticals

Hypo1: 

Range 26.40 – 26.96

Hypo2: Prev. High / H4 VWAP BO

Entry Long around 26.80, targets 27, 27.40 to roll over

Hypo3: M30 Swing Reversal

Entry Short around 26.40,  targets 26.10, extended target 25.75