OIL: First green day, three days cycle

6 Jun 2024

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“Trade setups, not movements”

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

• Monday DAY 1 Opening Range
  
• Tuesday DAY 2 Initial Balance
  
• Wednesday DAY 3 (reset DAY 1) Mid Point Week
  
• Thursday DAY 2 ✅ day 3 cycle
  
• 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: primary, by tomorrow with the NFP, we can definitely see this great weekly dump and pump scenario completed, second hour NY session I will be looking for a buy low setup, back at least to NY session Monday morning.
  
• Short: I do not exclude price going back lower, retesting the LOW, however I wouldn't be interested today in this scenario.
  

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

6 Jun 2024

Nota

DAILY OVERVIEW

Market placed a higher high and dumped back into the LOD, if the market will consolidated for 30/45 mins, I will be willing to take this long

6 Jun 2024

Nota

DUMP AND PUMP..
If you are in, you should already be at break even, or locked some profit

7 Jun 2024

Nota

Trade happened mostly after the NY session, perfectly played out, but NFP today