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I've Been Talking About 82.40 WTI For Over A Week Now

Writer's picture: Anthony SpecialeAnthony Speciale
Speciale Analysis

Hey Trader,


Finding Strength and Wisdom in Our Trading Journey


I hope this email finds you well and inspired for the trading week ahead.


As we navigate the turbulent waters of the market, it's essential to anchor ourselves in a source of strength and wisdom that transcends mere numbers and charts.


Today, I want to share with you a powerful verse from:


"Let the message of Christ dwell among you richly as you teach and admonish one another with all wisdom through psalms, hymns, and songs from the Spirit, singing to God with gratitude in your hearts." - Colossians 3:16


In our trading journey, this verse reminds us of the importance of community, wisdom, and gratitude.


Just as we seek guidance and support from fellow traders, we should also embrace the message of Christ, allowing it to enrich our lives and decisions.


With a heart full of gratitude and wisdom, we can approach the market with a balanced and calm mindset, making more thoughtful and insightful trading choices.


Let's carry this spirit of wisdom and gratitude into our trading activities, supporting and encouraging one another as we strive for success.


Remember, the greatest strategies are not just those that profit us materially, but those that enrich our lives and the lives of others.


Wishing you a prosperous and fulfilling trading week ahead!


Be Relentless In Pursuit Of The Will 

Which God Has Set Upon Your Heart,

Anthony Speciale



I've Been Talking About 82.40 WTI For Over A Week Now


Hello traders, Anthony here with Speciale Analysis. I hope you're all having a wonderful day. Today, I want to dive into how we played the crude oil market this morning.


I'll walk you through my strategy, including how and why I made my trade, and how it all unfolded during the LIVE market analysis session.


Identifying the Resistance


For over a week, I've been closely monitoring the 82.40 level as a higher time frame resistance area.


This level has been a key focus in our trading discussions. It's crucial to identify these significant levels to plan your trades effectively.


chart
Source: MotiveWave

Getting Short: The Strategy


I initiated my short position at 7:20 AM Eastern Standard Time.


Here's why I believed this was the optimal time to enter the market:


  • Exhaustive Highs: The market made a high, then a slightly lower high, indicating potential exhaustion.

  • Retesting Levels: We retested the high of a significant level, which I deemed a meaningful point for entering a short position.


You can see from the footprint chart (which I'll include in the blog post) why this area was primed for a short entry. The trapped buyers were approx. 9X the candle delta...


chart
Source: MotiveWave

The market confirmed my analysis by making the anticipated move downwards.


Exiting the Trade


I set my exit target at 82.10, a level I felt confidence in that would be filled on the approach to heavy resting liquidity at 82.00.


The market then experienced some consolidation and a slight pullback around 8:30 AM, following a news release.


However, my analysis suggested that if the 8:30 candle set a lower high, that's when I openly expressed we would likely continue to see a downward trend.


Our primary target was $81, with important levels along the way, such as the overnight low and 81.60, which became the point of control on the volume profile.


As we approached $81, we saw liquidity stepping into the market, confirming our target.


Real-Time Adjustments


Throughout the session, I communicated with my clients, guiding them through the unfolding market dynamics. At 8:30 AM, we observed a sequential lower high, reinforcing our big picture target of 81.60, and then ultimately $81.


The book map showed significant liquidity at these levels, and new liquidity emerged as the market tested these points.


Importance of Liquidity and Risk Management


Liquidity played a critical role in our trading strategy today.


Understanding where liquidity exists in the market can help you protect your profits and manage risk effectively.


As we moved towards our targets, the presence of liquidity at $81 indicated a potential area of market resistance, prompting me to take profits.


testimonial

Risk management is vital.


It's not just about hitting your targets but also protecting yourself along the way.


Everyone has their own approach, but having a solid target and good risk management practices can significantly enhance your trading performance.


Economic News and Market Volatility


Today's trading was influenced by multiple economic news releases at 8:30 AM, 9:45 AM, and 10:00 AM.


These events added volatility to the indices and gold, making them difficult to navigate.


However, crude oil presented a clearer path, less impacted by these economic factors, which reinforced my decision to focus on it.


Our analysis and strategy were validated by the market's movements, confirming the importance of meticulous planning and real-time adjustments.


Trading is not just about making trades but understanding the market dynamics and being prepared to adapt as necessary.



Thank you for reading, and I look forward to seeing you in our next session.


God bless, and have a wonderful day!


If you have any questions or need further guidance, feel free to reach out. info@specialeanalysis.com May the markets be ever in your favor!



Happy Trading,

Speciale Analysis



Anthony and Anna Speciale

About the Author:

Anthony Speciale is a seasoned market analyst with over 13 years of experience trading. Through his platform, Speciale Analysis, he offers in-depth market analysis, interpretation, and expectations designed to help all types of traders, at every skill levels reach their full potential.



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