WTI Crude 2021 Week 24 Trading Plan

12 Jun WTI Crude 2021 Week 24 Trading Plan

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This is my week­ly out­look on WTI Crude Oil. The lev­els that I will be look­ing at with a high­er prob­a­bilis­tic chance the mar­ket will start react­ing. Dur­ing the ses­sion I then wait for the mar­ket to hit those lev­els and either con­firm or reject my bias through price action con­fir­ma­tion and order flow. I hope that makes sense. If not, please get in touch with me. I love to talk to peo­ple that are on the same path as me. So don’t be shy and reach out. 

Month­ly — Slight­ly Bullish

• Price formed a MN RBR through Bull Engulf giv­ing MN-C‑D 62.490 with one test and con­tin­u­a­tion high­er arriv­ing at MN-C‑S 69.678
• Price trad­ing with­in MN QHi

Week­ly — Slight­ly Bullish

• W1 Bull Engulf giv­ing W1-C‑D 65.568 at W1 VWAP in UT TC above MN demand
• Price trad­ing with­in W1 QHi below W1-C‑S 73.340

Dai­ly — Slight­ly Bullish

• D1 demand cre­at­ed through Bull Engulf at MN C‑sup with con­se­quent RBR test­ing said demand 3 times arriv­ing at D1-C‑S 71.50 with slight reaction
• No D1 Q point activated

Sen­ti­ment sum­ma­ry — Slight­ly Bullish

• MN shows a strong move high­er although hav­ing arrived at a strong sup­ply from Octo­ber 2018 some reac­tion could be expected
• W1 is show­ing a con­tin­ued move high­er as well although near­ing W1-C‑S 73.340. If price takes out W1 Sup­ply End 76.899 price would take out the high of Octo­ber 2018
• Price arrived at a strong D1 sup­ply with only lit­tle reac­tion so far which could mean a con­tin­u­a­tion until proven otherwise

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• W1-C‑S 73.340
• D1-C‑S 71.50
• MN-C‑S 69.678

ZOIs for Pos­si­ble Long

• D1-C‑D 70.000
• W1-C‑D 65.568
• MN-C‑D 62.490

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
• 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

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