WTI Crude 2021 Week 26 Trading Plan

26 Jun WTI Crude 2021 Week 26 Trading Plan

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #oil #crude #WTI #USoil

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

• Price formed a MN RBR through Bull Engulf giv­ing MN-C‑D 62.343 with one test and con­tin­u­a­tion high­er arriv­ing at MN-C‑S 69.762 (cre­at­ed pre-COVID)
• Price trad­ing with­in MN QHi and deep­er into MN Supply

Week­ly — Bullish

• Price trad­ed high­er and closed with­in W1-C‑S 73.340
• Price trad­ing with­in W1 QHi

Dai­ly — Bullish

• Price arrived and react­ed off D1-C‑S 74.151, then pro­ceed­ed to close high­er at said supply

Sen­ti­ment sum­ma­ry — Bullish

• Price trad­ed high­er to MN sup­ply from pre-COVID and con­tin­ued to trade higher
• Price closed with­in W1 Sup­ply near its high
• Price slow­ing down on D1 but clos­ing as a RBR

Addi­tion­al notes

• Jun 28, 21:00 USD Fed’s Williams speech
• Jun 29, 01:10 USD Fed’s Quar­les speech
• Jun 29, 20:00 EUR Con­sumer Price Index (YoY)
• Jun 30, 15:55 EUR Unem­ploy­ment Change
• Jun 30, 17:00 EUR Con­sumer Price Index (YoY)
• Jun 30, 19:00 GBP BoE’s Hal­dane speech
• Jun 30, 22:30 USD EIA Crude Oil Stocks Change
• Jul 01, 16:00 EUR Mark­it Man­u­fac­tur­ing PMI
• Jul 01, 17:00 EUR Unem­ploy­ment Rate
• Jul 01, 20:30 USD Ini­tial Job­less Claims
• Jul 01, 21:45 USD Mark­it Man­u­fac­tur­ing PMI
• Jul 02, 03:00 GBP BoE’s Gov­er­nor Bai­ley speech
• Jul 02, 20:30 USD Non­farm Payrolls

ZOIs for Pos­si­ble Shorts

• W1-C‑S 73.340

ZOIs for Pos­si­ble Long

• 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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