OIL: First red day, day 3 breakout long and failed weekly high

١٥ يوليو

Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”

1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)

• Monday DAY 1 Opening Range ✅ day 2 cycle
  
• Tuesday DAY 2 Initial Balance
  
• Wednesday DAY 3 (reset DAY 1) Mid Point Week
  
• Thursday DAY 2
  
• Friday DAY 3 Closing Range
  

2. SIGNAL DAY

• First Red Day ✅
  
• First Green Day
  
• 3 Days Long Breakout ✅
  
• 3 Days Short Breakout
  
• Inside Day
  

3. WEEKLY TEMPLATE

• Pump&Dump ✅
  
• Dump&Pump
  
• Frontside
  
• Backside ✅
  

4. THESIS:

• Long: secondary, I'm not really interested today in going long, however, Friday HOW failed breakout, started dumping and it could be considered as a higher high for a dump and pump.
  
• Short: primary, weekly template pump and dump, lower low can be a sign of weakness, watching second hour NYT for down continuation.
  

Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni

١٥ يوليو

ملاحظة

Great pump and dump scenario, HOD to LOD.
However, not an amazing RR