Yesterday's perfect oil trade.

Hi everyone.

Just a quick update today to show you what happened in my best trade of yesterday regarding WTI.

Below is the trade in full detail. In the early hours of the session, we had this push above the trendline on the back of low volume. Naturally, this was not enough in itself to constitute a push higher dramatically. The trendline ont he top was however very well respected.

We also had the bottom trendline forming part of a triangle formation which indicated we were due for a breakout (as we were between 2/3 and 3/4 of the way betewen the base of the triangle and the vertex). Ultimately, we then came back down to test the trendline where the blue box is, and this was my perfect buy signal indicated by the up arrow.

I must confess that if the API weekly crude draw released yesterday at 21:30 GMT would have been a worse (by which I mean, less negative) number, then the market would probably have dropped rather than rallied to the extent which it did.

Anyhow, that just illustrates the point that we cannot afford to ignore fundamentals.


This was a very cheeky trade which netted me an even cheekier $1.45 profit per barrel.