Profit for Oil / Gold Trade Turns Higher

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 118.89, gold is trading at 839.13.

Profit and Loss:
Shorted 1 lot of supermini oil: (118.89 - 115.00) x 100 = -US$389
Bought 1 lot of gold: (839.13 - 822.63) x 100 = +US$1650
Net profit = 1650 - 389 = US$1263

Oil chart

Gold chart

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.