5th august 2015 cl

Momentum Day Trade

Short Crude Oil

5th August 2015

Longer Term Technical Analysis

• 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

Short Term Technical Analysis

Intra Day Fundamentals

• Speculation prior to EIA report is that weekly supply data due later in the session will show U.S. crude inventories fell at a faster pace than expected last week.

• American Petroleum Institute, an industry group, said that U.S. crude inventories fell by 2.4 million barrels in the week ended July 31, compared to expectations for a decline of 1.6 million.

• Global oil production is outpacing demand following a boom in U.S. shale oil production and after a decision by the Organization of Petroleum Exporting Countries last year not to cut production.

Intra Day Technical Analysis

Trade Management

• I offered one contract at 2961 with 8 tick stop at 2969

• I bid myself out at 2944

Intuition

• No

Review

• It was one good trade • I was patient to offer liquidity which boosted my

ratios as I entered 4 ticks above my signal level • I held this trade for approximate 212 minutes • I followed my process to the letter with discipline.

Holding position for a longer time leads to boredom which usually makes me do something stupid so i am happy that I channeled my boredom in someplace else.

• In next 90 days hopefully with confidence this trade can be scaled up in position sizing.