Good morning everyone, since I'm new here and this is my first post, I want to tell you about my background first, before I get into the analysis for today. My name is Linus and I'm from Munich, Germany. I have been trading for about 2,5 years, and I am currently in the funded trader preparation at TopstepTrader. Analysis Fundamentals: - U.S. Crude Oil Inventories - Previous: +2.072M - Forecast: -1.440M - Actual: -4.143M - ECB Meeting Technicals: - Market in a correction of the strong down move - Short-term market bullish after strong inventory report and double bottom last week Key level: - 66,45 - 66,54 --> Potential Buy - 66,17 - 66,27 --> Potential Buy - 65,83 - 65,95 --> Strong Support - 66,80 - 66,95 --> Potential Profit Target - 67,17 - 67,29 --> Strong Resistance (Potential Reversal) ^CL M60 ^CL M10 Daily Volume Profile/TPO Verdict: - Careful Long Bias until the 67,17 - 67,29 resistance zone - I'm looking to buy a small retracement into one of the support areas - Watching the strength of the market will allow me to judge if the market is going to turn bearish again at some point If you have any questions about my analysis, please feel free to ask! Gl & Hf trading Linusoverload
Took a careful long after missing the first entry at the first buy zone. The market didn't go as high as the potential reversal zone, but it might be tested overnight. Generally low relative volume for the day kept the market in a very tight range, leading to no further trade setups for me! Hope you guys had a great day! Linusoverload
Welcome Linusoverload, Great write up. I also trade day trade CL, preparing for the TST combine, and trade the chart resistance and support levels. You was right about the 67.17 resistance level, it was a good reversal point Currently, long at 66.65, with profit target about 66.83, and stop at 66.46. Look forward to your analysis.
great work Linusoverload I was able to get one long from the reversal today. I held for about 2 hours, but it worked out and I was able to exit before 1:30pm per the TST rules.
linusoverload, I was with TST for about 6 months. I failed the combined like 3 times, and failed the funded stage once. I decided to stop TST and refocus my strategy Now I am trading sim/paper til I can make about $20K with one contract, then reenter the TST again. This time I will I pass it and get funded.