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