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Trading Plan Crude Oil 04222020

Trading Plan Crude Oil 04222020

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

Click here for my recent week­ly trad­ing plan

  • M: Big drop. Still have more than a week to go to close off the can­dle to give insight.
  • W: Still 3 days left in the can­dle before close. We made a fast sec­ond-leg move we have made pre­vi­ous­ly indi­cat­ing a poten­tial exhaus­tion. Although the mar­kets can go against you longer than you can stay sol­vent so only trade based on your trad­ing rules. 
  • D: Show­ing a nice imbal­ance but extend­ed away from VWAP very fast indi­cat­ing a pos­si­ble return. No Demand ZOI has been cre­at­ed yet so will need to wait for con­fir­ma­tion of that first before even con­sid­er­ing a longer-term long position.
  • H4: Big Demand ZOI  8.10 — 14.10. Last leg of the move has a more than 50% retrace­ment so there is more buy­ing going on.
  • M30: Price reject­ed VWAP and KC imbal­ance still very much in play.
  • MP: Pre­vi­ous pro­file was a trend day. Dur­ing the Asian ses­sion we reject­ed yesterday’s VAL and con­se­quent­ly the range as well con­firm­ing the imbal­ance for the moment in the market. 

Hypo­thet­i­cals

Hypo1

Price Opens below PVAL and Range and we con­tin­ue the exten­sion downwards.

Entry short @ retest pre­vi­ous day range around 12.899, tar­gets 12.05, 11.65, 11.05, extend­ed tar­gets 10.30, 8.05

Hypo2: H4 Swing Rever­sal, with­in Demand ZOI / H4 QLo. Find sup­port above prev. Day low

Entry long around 9.05, tar­gets 10.70, extend­ed tar­get 12.90

Hypo3: H4 Swing Rever­sal, above Demand ZOI / H4 QLo. 

Entry long around 10.80, tar­get 12.90

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

1Comment
  • T3chAddict
    Posted at 16:30h, 22 April

    !MESSAGE FROM MY BROKER!

    Due to increased volatil­i­ty and uncer­tain­ty in the Oil mar­kets, [INSERT BROKER] will be increas­ing mar­gin require­ments for all Oil prod­ucts as of Thurs­day 23rd April 2020 at 10:00 AM GMT.

    More impor­tant­ly, WTI Crude Oil has been set to Close Only, which means you will not be able to open any new posi­tions on WTI and only have the abil­i­ty to close exist­ing trades. Note, you can still open new trades on Brent UK Crude Oil.

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