mikebiz
Short

WTI 2018-11-26 possible breakout setup

TVC:USOIL   CFDs on WTI Crude Oil
  • Small pivot range set from last session into current
  • Value area overlapped and down from last session
  • POC's basically same and aligned for past two sessions
  • Previous session looks like an 'expanded typical day' following the previous session of a 'double-distributed trending day'

Plan for 27th:
  • Wait for IB to be set. Could help add clarity as to market type options for 27th
  • Consider how price moves out of IB
  • Consider a position if price clearly breaks the S4 or R4 pivots
  • Watch price action around important lines like previous sessions' VAH/VAL, POC , and current session's Camarilla pivots S3/4, R3/4
  • Watch for candles that signal some type of reversal or direction change at these levels and where buyers/sellers may come in.
Comment: After market opened:
Initial Balance = 58 pips
R3-S3 range = 115 pips
R4-s4 range = 230pips



market type possibilities:
'Typical Day' | 'Trading Range Day' | 'Sideways Day' - market would need to continue to trade in the 58 pip range of the IB

'Trend Day' - market would have sold off/bought up early and continue in same direction until session closed

'Double-distributed Trend day' | 'Expanded Typical Day' - both good possibilities. Expanded typical day will probably swing between pivots (3 or 4) while DDTrend day will probably break in one direction.
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