Momentum Day Trade

1. Momentum Day Trade
Short Crude Oil
3rd August 2015

2. Longer Term Technical Analysis

3. • Price is below 200 day moving average
• Price is below 20 day moving average
• Crude Oil is witnessing volatility contraction
with 5day ATR < 20day ATR

4. Short Term Technical Analysis

5. Intra Day Fundamentals
• Iran and six world powers reached a long-awaited
nuclear deal in July that would end sanctions on Tehran
in exchange for curbs on the country's disputed nuclear
program. Iran reportedly hoards 30 million barrels of
oil in its reserves ready for export.
• The official China's manufacturing purchasing
managers' index published on Saturday dipped to 50.0
last month from 50.2 in June, as new orders declined.
• China is the world’s second-largest oil consuming
nation and manufacturing numbers are used as
indicators for fuel demand growth.

6. Intra Day Technical Analysis

7. Trade Management
• I offered one contract at 3000 with 3 tick stop
at 3003
• Initially I had offered it at 3010 but due to my
account being relatively new I had to finish
few formalities before I could actually place an
order
• I bid myself out at 2984

8. Intuition
• No

9. Review
• It was one good trade
• I was patient to offer liquidity which boosted
my ratios
• This trade yielded 5x reward for 1x risk
• I held this trade for approximate 120 minutes