On Monday 25 August, I mentioned that Oil / Gold ratio chart looks toppish and has started to move downward. So tap on this downward movement is to sell oil and buy gold. Details here.
I had sold 1 lot of supermini oil at 115.00 and bought 1 lot of gold at 822.63.
Currently oil is trading at 97.60, gold is trading at 892.08.
Profit and Loss:
Shorted 1 lot of supermini oil: (115.00 - 97.60) x 100 = +US$1740
Bought 1 lot of gold: (892.08 - 822.63) x 100 = +US$6945
Net profit = 1740 + 6945 = US$8645
To execute this trade, you need to sell oil contract that trade in multiple of 100, which is same as gold. To do that, you need to open account at FXYard which allow you to do so (supermini oil contract). Click here to open account.
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