WTI Crude 2021 Week 27 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 – Bullish

• Last month closed higher almost taking out supply
• MN Supply (from pre-covid) taken out

Weekly – Bullish

• W1 Supply taken out
• W1 Phase 2

Daily – Bullish

• D1 having created new demands in line with D1 VWAP in UT with arrival at old D1 Supply

Sentiment summary – Bullish

• MN supply from precovid taken out
• W1 Supply taken out, possible next target W1-C-S 93.521
• Due to the bullish sentiment the expectancy is for old D1 supply to get taken out as well

Additional notes

• Jul 05, 16:00 EUR Markit PMI Composite
• Jul 06, 21:45 USD Markit PMI Composite
• Jul 06, 22:00 USD ISM Services PMI
• Jul 07, 22:00 CAD Ivey Purchasing Managers Index
• Jul 07, 23:00 USD Fed Monetary Policy Report
• Jul 08, 02:00 USD FOMC Minutes
• Jul 08, 20:30 USD Initial Jobless Claims
• Jul 08, 22:30 USD EIA Crude Oil Stocks Change (THURSDAY)
• Jul 09, 20:30 CAD Unemployment Rate

ZOIs for Possible Shorts

• W1-C-S 93.521
• D1-C-S 76.651

ZOIs for Possible Long

• D1-C-D 75.155
• D1-C-D 73.447
• D1-C-D 71.203
• MN-C-D 62.343

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
  • Weekly Focus Points
  • Min. 3 times working out at home + mandatory cardio
  • Trading rules
  • Focus on taking ONE trade a day. If I missed the first DTTZ then a trade needs to be taken on the 2nd DTTZ unless there is a high/medium initiative activity day.
  • Only price-action based exit rules (or if hit time stop comes earlier)
  • M15/M30 entries and exits at 1st DTTZ, M5 entries and exits at 2nd DTTZ
  • Buffer trades (profit target >1R) are allowed and encouraged
  • Use SL scaling in case the profit target for the setup doesn’t provide 2R for example for FA or VAA setups
  • No social media / messenger apps / phone calls allowed during the trading window
• 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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