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OIL: Day 3 breakout shorts in the market

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“Trade setups, not movements”

1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
Monday DAY 1 Opening Range ✅ No cycle started yet
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, many times, day 3 shorts in the market are a strong reversal signal, especially during Wednesday or Friday (which closes the week). From Friday NY session the market dumped down and currently it looks consolidating on the low, with a chance to push higher stopping the previous and most recent level short (I would define it a long scalp)
Short: primary, market still on the backside, a lower low into the LOW can be a great clue of daily pump and dump back into the LOW or previous LOW.

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

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DAILY OVERVIEW:
1. LONG PERSPECTIVE

2. SHORT PERSPECTIVE

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Market just blew off into the primary target (read the description), however everything happened before news release and without giving a clear entry as per my style.
I do not think I will be keep following oil for today, 100+ pip parabolic into the LOW

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